Cullen Frost Bankers Inc. Has $7.44 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Cullen Frost Bankers Inc. lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,319 shares of the semiconductor company’s stock after acquiring an additional 791 shares during the period. Cullen Frost Bankers Inc.’s holdings in Synopsys were worth $7,435,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its holdings in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC raised its position in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after buying an additional 61,799 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the period. Parnassus Investments LLC bought a new position in Synopsys during the 3rd quarter worth $633,469,000. Finally, Janus Henderson Group PLC increased its stake in Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after acquiring an additional 81,198 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SNPS shares. Wells Fargo & Company cut 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. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. 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, Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Down 0.5 %

Shares of SNPS opened at $445.73 on Friday. The stock has a market cap of $68.92 billion, a PE ratio of 30.70, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $429.77 and a 12-month high of $624.80. The business has a 50-day simple moving average of $502.01 and a two-hundred day simple moving average of $513.09.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently 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.