First Hawaiian Bank Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

First Hawaiian Bank cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,686 shares of the semiconductor company’s stock after selling 1,342 shares during the quarter. First Hawaiian Bank’s holdings in Synopsys were worth $4,701,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC increased its stake in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after acquiring an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Synopsys by 6.1% during the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after acquiring an additional 23 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of Synopsys stock traded up $14.38 during trading hours on Wednesday, hitting $502.00. The company had a trading volume of 1,243,142 shares, compared to its average volume of 984,000. The company’s 50-day moving average is $525.02 and its two-hundred day moving average is $531.02. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a market cap of $77.60 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company began coverage on Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. 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 has an average rating of “Moderate Buy” and an average target price of $649.00.

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.