Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Intrust Bank NA

Intrust Bank NA reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,359 shares of the semiconductor company’s stock after selling 130 shares during the period. Intrust Bank NA’s holdings in Synopsys were worth $3,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new stake in Synopsys in the fourth quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Synopsys during the 4th quarter worth $51,000. Finally, Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction 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 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 a total of 47,909 shares of company stock valued at $22,794,835 over the last 90 days. Insiders own 0.62% of the company’s stock.

Synopsys Trading Down 1.9 %

Shares of SNPS stock opened at $437.95 on Friday. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50-day moving average price of $485.62 and a 200 day moving average price of $505.27. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNPS. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

About Synopsys

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.