Yousif Capital Management LLC Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Yousif Capital Management LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,496 shares of the semiconductor company’s stock after selling 1,713 shares during the quarter. Yousif Capital Management LLC’s holdings in Synopsys were worth $8,977,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC boosted its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its position in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter valued at approximately $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

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 stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, 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 is accessible through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Finally, Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

NASDAQ:SNPS opened at $528.42 on Thursday. The company has a 50 day moving average price of $514.82 and a 200-day moving average price of $519.39. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market cap of $81.68 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

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.