CNB Bank Sells 76 Shares of Synopsys, Inc. (NASDAQ:SNPS)

CNB Bank trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,096 shares of the semiconductor company’s stock after selling 76 shares during the quarter. CNB Bank’s holdings in Synopsys were worth $1,017,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNPS. Pacifica Partners Inc. purchased a new stake in Synopsys in the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth $27,000. Tsfg LLC raised its position in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position 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 worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Synopsys during the third quarter worth about $44,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SNPS shares. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler cut their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, 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.

Synopsys Stock Up 1.8 %

NASDAQ SNPS opened at $525.09 on Friday. The firm has a market cap of $81.17 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 3.22 and a beta of 1.12. The company has a 50-day simple moving average of $521.29 and a two-hundred day simple moving average of $527.29. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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.