King Luther Capital Management Corp Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

King Luther Capital Management Corp decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,274 shares of the semiconductor company’s stock after selling 4,098 shares during the quarter. King Luther Capital Management Corp’s holdings in Synopsys were worth $3,531,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth $51,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SNPS shares. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

Shares of SNPS opened at $432.46 on Thursday. The stock’s 50-day moving average is $497.92 and its two-hundred day moving average is $509.52. The stock has a market cap of $66.87 billion, a PE ratio of 29.78, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $427.30 and a 12 month high of $624.80.

Synopsys 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.