KCM Investment Advisors LLC Reduces Stake in Synopsys, Inc. (NASDAQ:SNPS)

KCM Investment Advisors LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 665 shares of the semiconductor company’s stock after selling 38 shares during the quarter. KCM Investment Advisors LLC’s holdings in Synopsys were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Synopsys by 3.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock valued at $853,631,000 after purchasing an additional 60,121 shares in the last quarter. Norges Bank bought a new position in shares of Synopsys in the fourth quarter worth $583,608,000. Finally, Bank of New York Mellon Corp raised its position in shares of Synopsys by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock worth $527,222,000 after buying an additional 3,533 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. 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. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Down 7.1 %

Shares of NASDAQ:SNPS opened at $388.13 on Monday. The stock has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The stock’s 50-day moving average price is $473.83 and its 200-day moving average price is $503.14. Synopsys, Inc. has a 12-month low of $358.15 and a 12-month high of $624.80.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred 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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last ninety days. 0.62% of the stock is owned by company insiders.

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.