Chevy Chase Trust Holdings LLC Sells 1,481 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Chevy Chase Trust Holdings LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,915 shares of the semiconductor company's stock after selling 1,481 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Synopsys worth $39,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the fourth quarter valued at about $27,000. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC bought a new stake in Synopsys in the 3rd quarter valued at about $44,000. nVerses Capital LLC acquired a new position in shares of Synopsys during the 3rd quarter worth approximately $51,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNPS shares. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. Wells Fargo & Company decreased their price target on Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Finally, Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Stock Performance

Shares of Synopsys stock traded up $2.47 on Tuesday, hitting $525.00. The stock had a trading volume of 1,079,442 shares, compared to its average volume of 994,873. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a 50 day moving average of $511.06 and a 200 day moving average of $517.59. The firm has a market capitalization of $81.15 billion, a P/E ratio of 36.16, a PEG ratio of 3.49 and a beta of 1.12.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm'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 completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company 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.