TIAA Trust National Association Sells 1,103 Shares of Synopsys, Inc. (NASDAQ:SNPS)

TIAA Trust National Association trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,330 shares of the semiconductor company’s stock after selling 1,103 shares during the quarter. TIAA Trust National Association’s holdings in Synopsys were worth $7,926,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC increased its holdings in Synopsys by 1.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company’s stock valued at $906,000 after purchasing an additional 23 shares in the last quarter. Princeton Capital Management LLC grew its holdings in shares of Synopsys by 25.9% during the fourth quarter. Princeton Capital Management LLC now owns 1,075 shares of the semiconductor company’s stock worth $522,000 after purchasing an additional 221 shares during the last quarter. Napean Trading & Investment Co Singapore PTE Ltd increased its stake in shares of Synopsys by 7.6% in the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 30,687 shares of the semiconductor company’s stock valued at $14,894,000 after buying an additional 2,176 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Synopsys by 0.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 37,161 shares of the semiconductor company’s stock valued at $18,037,000 after buying an additional 192 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after buying an additional 120,575 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Down 0.1 %

NASDAQ SNPS opened at $457.23 on Wednesday. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The company has a market capitalization of $70.70 billion, a PE ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.16. The stock has a 50-day simple moving average of $489.94 and a 200 day simple moving average of $506.26.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last ninety days. 0.62% of the stock is owned by insiders.

Synopsys 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.