Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lowered by Huntington National Bank

Huntington National Bank lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,783 shares of the semiconductor company’s stock after selling 5,203 shares during the quarter. Huntington National Bank’s holdings in Synopsys were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the fourth quarter valued at $39,000. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the fourth quarter worth about $51,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.6 %

Shares of NASDAQ:SNPS opened at $438.55 on Thursday. The company has a market cap of $67.81 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The company’s fifty day moving average is $479.67 and its two-hundred day moving average is $504.45. Synopsys, Inc. has a 12-month low of $422.65 and a 12-month high of $624.80.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Finally, Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now 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 legal filing with the SEC, which is available through this hyperlink. 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 transaction of $6,979,616.10. Following the completion of the sale, 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. Over the last quarter, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

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.