Jackson Square Capital LLC Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Jackson Square Capital LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,149 shares of the semiconductor company’s stock after selling 185 shares during the period. Jackson Square Capital LLC’s holdings in Synopsys were worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Argent Trust Co boosted its holdings in Synopsys by 12.1% in the 2nd quarter. Argent Trust Co now owns 464 shares of the semiconductor company’s stock worth $276,000 after buying an additional 50 shares during the period. Bridges Investment Management Inc. purchased a new stake in Synopsys during the 2nd quarter valued at approximately $437,000. King Luther Capital Management Corp raised its position in shares of Synopsys by 50.6% during the second quarter. King Luther Capital Management Corp now owns 9,313 shares of the semiconductor company’s stock valued at $5,542,000 after buying an additional 3,129 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Synopsys by 4.8% in the second quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock worth $2,189,000 after buying an additional 169 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Synopsys by 1.7% during the second quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock valued at $12,267,000 after acquiring an additional 338 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Finally, Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Stock Up 2.1 %

Shares of SNPS opened at $526.70 on Friday. The business has a fifty day moving average of $519.43 and a 200 day moving average of $526.11. The company has a market cap of $81.42 billion, a PE ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week 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.