Swedbank AB Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Swedbank AB decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,506,201 shares of the semiconductor company’s stock after selling 47,261 shares during the period. Synopsys accounts for 0.9% of Swedbank AB’s investment portfolio, making the stock its 20th biggest holding. Swedbank AB’s holdings in Synopsys were worth $731,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter valued at about $25,000. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $27,000. Tsfg LLC grew its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $44,000. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $7.98 on Wednesday, hitting $518.14. The company’s stock had a trading volume of 87,984 shares, compared to its average volume of 1,092,714. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company has a market capitalization of $80.09 billion, a PE ratio of 35.78, a PEG ratio of 3.57 and a beta of 1.12. The company has a 50-day simple moving average of $518.25 and a 200 day simple moving average of $521.60.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by 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.