Synopsys, Inc. (NASDAQ:SNPS) Stake Decreased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,533 shares of the semiconductor company’s stock after selling 375 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Synopsys were worth $1,229,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the 4th quarter valued at about $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys in the 4th quarter worth approximately $51,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $446.23 on Friday. The firm has a 50 day simple moving average of $495.89 and a 200 day simple moving average of $508.31. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The company has a market cap of $69.00 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last three months. 0.62% of the stock is currently owned by company 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.