AGF Management Ltd. Sells 16,832 Shares of Synopsys, Inc. (NASDAQ:SNPS)

AGF Management Ltd. lowered its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,143 shares of the semiconductor company's stock after selling 16,832 shares during the period. AGF Management Ltd. owned 0.14% of Synopsys worth $106,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC raised its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at $633,469,000. Finally, Janus Henderson Group PLC raised its position in shares of Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company's stock valued at $577,289,000 after acquiring an additional 81,198 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

Shares of SNPS stock opened at $429.85 on Tuesday. Synopsys, Inc. has a one year low of $427.30 and a one year high of $624.80. The business's 50 day simple moving average is $500.07 and its 200 day simple moving average is $510.83. The stock has a market capitalization of $66.46 billion, a PE ratio of 29.60, a PEG ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Several analysts have commented on SNPS shares. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price objective on the stock. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $638.58.

Remove Ads

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.