Hancock Whitney Corp Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

by · The Cerbat Gem

Hancock Whitney Corp lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,394 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Hancock Whitney Corp’s holdings in Synopsys were worth $4,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ascent Group LLC lifted its position in Synopsys by 1.7% in the first quarter. Ascent Group LLC now owns 1,978 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 34 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Synopsys by 13.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock valued at $2,332,000 after acquiring an additional 488 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Synopsys by 39.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock worth $914,000 after purchasing an additional 453 shares during the period. California State Teachers Retirement System grew its stake in shares of Synopsys by 0.3% in the first quarter. California State Teachers Retirement System now owns 243,751 shares of the semiconductor company’s stock worth $139,304,000 after purchasing an additional 721 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in Synopsys by 14.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 5,261 shares of the semiconductor company’s stock valued at $3,007,000 after purchasing an additional 663 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $567.10 on Monday. The firm has a market capitalization of $87.11 billion, a P/E ratio of 58.83, a PEG ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company’s 50-day simple moving average is $520.78 and its 200 day simple moving average is $545.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNPS shares. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective 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 Tuesday, October 22nd. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

View Our Latest Stock Analysis on Synopsys

Synopsys Profile

(Free Report)

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.

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