Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,937 shares of the semiconductor company’s stock after selling 95 shares during the period. Evergreen Capital Management LLC’s holdings in Synopsys were worth $940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC raised its holdings in shares of Synopsys by 41.0% in the 4th quarter. Regal Investment Advisors LLC now owns 1,235 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 359 shares during the period. Jump Financial LLC purchased a new position in Synopsys in the fourth quarter valued at approximately $453,000. Anchor Investment Management LLC lifted its position in Synopsys by 35.9% during the fourth quarter. Anchor Investment Management LLC now owns 3,956 shares of the semiconductor company’s stock valued at $1,920,000 after buying an additional 1,045 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Synopsys during the fourth quarter worth approximately $16,617,000. Finally, Guggenheim Capital LLC increased its position in shares of Synopsys by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 84,176 shares of the semiconductor company’s stock worth $40,856,000 after acquiring an additional 5,484 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Bank of America dropped their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $618.31.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value 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. The trade was a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

SNPS opened at $413.32 on Friday. 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 $63.91 billion, a PE ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. The firm’s fifty day moving average price is $448.67 and its 200 day moving average price is $495.67.

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.