Northwest & Ethical Investments L.P. Sells 1,337 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Northwest & Ethical Investments L.P. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 56,280 shares of the semiconductor company’s stock after selling 1,337 shares during the period. Synopsys accounts for about 0.7% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 29th biggest holding. Northwest & Ethical Investments L.P.’s holdings in Synopsys were worth $27,316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the fourth quarter worth $33,000. Sierra Ocean LLC purchased a new position in Synopsys during the fourth quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new stake in Synopsys in the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its stake in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNPS shares. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Price Performance

SNPS opened at $450.28 on Thursday. The business’s 50-day moving average is $493.11 and its two-hundred day moving average is $506.95. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm has a market capitalization of $69.62 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.