Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,398 shares of the semiconductor company's stock after selling 1,886 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Synopsys were worth $8,449,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter worth $27,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys during the 4th quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC acquired a new position in Synopsys in the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 1.7 %

Shares of SNPS traded down $7.85 during midday trading on Wednesday, reaching $452.92. The company had a trading volume of 529,372 shares, compared to its average volume of 1,088,946. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a 50 day simple moving average of $434.86 and a 200-day simple moving average of $491.06. The stock has a market cap of $70.03 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. KeyCorp cut their target price on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $613.43.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

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.