Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Hilltop National Bank

Hilltop National Bank reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336 shares of the semiconductor company’s stock after selling 24 shares during the period. Hilltop National Bank’s holdings in Synopsys were worth $163,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in Synopsys by 1.7% in the 3rd 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 during the period. Geode Capital Management LLC grew its stake in Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC grew 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 acquiring an additional 487,025 shares during the period. Van ECK Associates Corp grew its stake in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter valued at $633,469,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler decreased 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Finally, Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $649.00.

Synopsys Stock Performance

Shares of Synopsys stock opened at $492.54 on Friday. The firm has a market cap of $76.14 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. The firm’s 50-day simple moving average is $523.58 and its 200-day simple moving average is $529.90. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

About Synopsys

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.