Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 36.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,274 shares of the semiconductor company’s stock after selling 4,098 shares during the quarter. King Luther Capital Management Corp’s holdings in Synopsys were worth $3,531,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Synopsys during the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its position in Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 59 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ SNPS opened at $432.46 on Thursday. Synopsys, Inc. has a 1-year low of $427.30 and a 1-year high of $624.80. The company has a market capitalization of $66.87 billion, a P/E ratio of 29.78, a PEG ratio of 3.23 and a beta of 1.16. The business has a 50 day moving average price of $497.92 and a 200 day moving average price of $509.52.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company decreased 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. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm’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 transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

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.