Peregrine Capital Management LLC Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Peregrine Capital Management LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,628 shares of the semiconductor company’s stock after selling 2,189 shares during the period. Synopsys accounts for about 0.7% of Peregrine Capital Management LLC’s portfolio, making the stock its 28th biggest position. Peregrine Capital Management LLC’s holdings in Synopsys were worth $22,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SNPS. Davidson Capital Management Inc. increased its stake in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares during the period. Peloton Wealth Strategists raised its stake in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Swiss National Bank grew its stake in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC purchased a new position in Synopsys during the 3rd quarter worth $633,469,000. Finally, Harvest Portfolios Group Inc. raised its position in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SNPS shares. Piper Sandler dropped their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Finally, Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Synopsys stock opened at $522.53 on Tuesday. The stock has a market cap of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The stock has a 50-day moving average of $510.78 and a two-hundred day moving average of $517.72. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 transaction 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 represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.