Cresset Asset Management LLC Has $2.76 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Cresset Asset Management LLC reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 78.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,680 shares of the semiconductor company's stock after selling 20,579 shares during the period. Cresset Asset Management LLC's holdings in Synopsys were worth $2,757,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the period. Capital World Investors boosted its stake in Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after buying an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC boosted its stake in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity

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

Synopsys Trading Up 4.7%

Shares of SNPS traded up $22.69 during trading hours on Monday, hitting $505.59. 1,099,699 shares of the stock traded hands, compared to its average volume of 1,102,535. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm has a market capitalization of $78.17 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business has a fifty day moving average of $438.34 and a 200-day moving average of $489.05.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNPS. KeyCorp decreased their price target on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $613.43.

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.