Synopsys, Inc. (NASDAQ:SNPS) Stake Lessened by Centiva Capital LP

Centiva Capital LP cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 54.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,494 shares of the semiconductor company's stock after selling 1,764 shares during the period. Centiva Capital LP's holdings in Synopsys were worth $725,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the 4th quarter valued at $34,000. Sierra Ocean LLC purchased a new position in Synopsys in the fourth quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of 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. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNPS. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $613.43.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded up $10.12 during trading on Tuesday, reaching $515.71. 821,323 shares of the company's stock traded hands, compared to its average volume of 1,101,422. The company has a 50 day moving average of $438.34 and a 200-day moving average of $489.05. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The stock has a market capitalization of $79.74 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

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.