CIBC Private Wealth Group LLC Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

CIBC Private Wealth Group LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,221 shares of the semiconductor company’s stock after selling 213 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Synopsys were worth $2,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Caprock Group LLC raised its position in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA grew its position in shares of Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares in the last quarter. Edge Capital Group LLC increased its stake in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 20 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its holdings in Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last quarter. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $438.55 on Thursday. The firm has a market capitalization of $67.81 billion, a P/E ratio of 30.20, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $422.65 and a 12-month high of $624.80. The business has a 50 day simple moving average of $479.67 and a 200 day simple moving average of $504.45.

Analysts Set New Price Targets

SNPS has been the subject of several research analyst reports. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $638.58.

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.