Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 63.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,079 shares of the semiconductor company's stock after selling 1,896 shares during the period. Blue Trust Inc.'s holdings in Synopsys were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC lifted its position in Synopsys by 1.9% in 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 in the last quarter. Edgewood Management LLC lifted its position in Synopsys by 18.9% in 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 in the last quarter. Van ECK Associates Corp lifted its position in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at $633,469,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated 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 completion of the sale, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNPS. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Wells Fargo & Company cut their price target on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reissued a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS stock traded down $19.13 on Friday, reaching $474.84. 1,370,372 shares of the company were exchanged, compared to its average volume of 1,066,749. The company has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 3.28 and a beta of 1.12. The business has a 50-day moving average price of $510.88 and a 200 day moving average price of $517.44. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

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.