First Hawaiian Bank Sells 1,342 Shares of Synopsys, Inc. (NASDAQ:SNPS)

First Hawaiian Bank reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,686 shares of the semiconductor company’s stock after selling 1,342 shares during the quarter. First Hawaiian Bank’s holdings in Synopsys were worth $4,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northcape Capital Pty Ltd acquired a new stake in Synopsys in the fourth quarter valued at approximately $1,307,000. Westwind Capital boosted its position in shares of Synopsys by 0.5% in the 4th quarter. Westwind Capital now owns 21,709 shares of the semiconductor company’s stock worth $10,537,000 after purchasing an additional 116 shares in the last quarter. Diversified Trust Co grew its stake in Synopsys by 9.3% during the 4th quarter. Diversified Trust Co now owns 3,275 shares of the semiconductor company’s stock worth $1,590,000 after buying an additional 278 shares during the last quarter. Nordea Investment Management AB increased its position in Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after buying an additional 143,284 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Synopsys by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,200 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock traded up $14.38 during midday trading on Wednesday, hitting $502.00. 1,243,142 shares of the company were exchanged, compared to its average volume of 984,000. The business has a fifty day simple moving average of $525.02 and a two-hundred day simple moving average of $531.02. The firm has a market capitalization of $77.60 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNPS. 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 note on Thursday, December 5th. Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Finally, Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $649.00.

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.