Fmr LLC Sells 472,031 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fmr LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,002,759 shares of the semiconductor company’s stock after selling 472,031 shares during the period. Fmr LLC’s holdings in Synopsys were worth $1,457,419,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caprock Group LLC boosted its stake in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares in the last quarter. Edge Capital Group LLC grew its stake in shares of Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. increased its position in Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in 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 currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNPS shares. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

NASDAQ SNPS opened at $388.13 on Monday. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $358.15 and a 1-year high of $624.80. The business’s fifty day moving average price is $473.83 and its 200-day moving average price is $503.14.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by insiders.

Synopsys Company 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.