Lazard Asset Management LLC Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Lazard Asset Management LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 188,823 shares of the semiconductor company's stock after selling 3,413 shares during the period. Lazard Asset Management LLC owned 0.12% of Synopsys worth $91,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys in the 4th quarter worth approximately $34,000. Sierra Ocean LLC purchased a new stake in Synopsys during the 4th quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. raised its position 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 valued at $44,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. KeyCorp decreased their price target on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $613.43.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents 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 Stock Performance

SNPS stock traded down $0.05 during midday trading on Friday, reaching $514.43. 946,601 shares of the company traded hands, compared to its average volume of 1,103,971. The firm has a market capitalization of $79.54 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The business has a 50 day moving average of $442.76 and a 200-day moving average of $489.56.

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.