Alliancebernstein L.P. Has $685.33 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Alliancebernstein L.P. reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,411,993 shares of the semiconductor company's stock after selling 21,634 shares during the period. Alliancebernstein L.P. owned 0.91% of Synopsys worth $685,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Townsquare Capital LLC lifted its position in Synopsys by 9.8% in the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company's stock worth $2,886,000 after purchasing an additional 508 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Synopsys in the 3rd quarter worth $11,441,000. Captrust Financial Advisors lifted its holdings in shares of Synopsys by 8.1% in the third quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company's stock valued at $2,529,000 after buying an additional 374 shares during the period. Edgestream Partners L.P. bought a new position in Synopsys during the third quarter valued at about $4,417,000. Finally, Erste Asset Management GmbH acquired a new position in Synopsys during the third quarter worth about $31,766,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNPS. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 target price for the company. Rosenblatt Securities restated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $638.58.

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Synopsys Stock Performance

Shares of SNPS stock traded down $20.41 on Thursday, reaching $418.14. 1,349,937 shares of the company's stock traded hands, compared to its average volume of 1,055,057. The company has a market capitalization of $64.65 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $403.97 and a 12-month high of $624.80. The business's 50 day moving average price is $479.67 and its two-hundred day moving average price is $504.45.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The stock was 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 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. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

About Synopsys

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.