Commonwealth Equity Services LLC Purchases 1,249 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Commonwealth Equity Services LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,032 shares of the semiconductor company's stock after purchasing an additional 1,249 shares during the period. Commonwealth Equity Services LLC's holdings in Synopsys were worth $4,869,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SNPS. PNC Financial Services Group Inc. raised its stake in shares of Synopsys by 6.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 24,715 shares of the semiconductor company's stock valued at $12,515,000 after buying an additional 1,494 shares in the last quarter. Jennison Associates LLC increased its stake in Synopsys by 41.1% in the third quarter. Jennison Associates LLC now owns 13,802 shares of the semiconductor company's stock valued at $6,989,000 after acquiring an additional 4,017 shares during the period. Citizens Financial Group Inc. RI bought a new position in Synopsys during the third quarter worth about $229,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Synopsys by 12.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,252 shares of the semiconductor company's stock worth $20,383,000 after purchasing an additional 4,463 shares during the period. Finally, Banco Santander S.A. boosted its holdings in Synopsys by 283.9% during the third quarter. Banco Santander S.A. now owns 1,363 shares of the semiconductor company's stock valued at $690,000 after purchasing an additional 1,008 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 of the company's stock, valued at $32,890,077.50. This 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 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNPS. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $638.58.

Synopsys Stock Performance

Synopsys stock traded down $7.33 during midday trading on Wednesday, reaching $449.90. The stock had a trading volume of 749,006 shares, compared to its average volume of 1,016,860. The stock has a market capitalization of $69.56 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80. The firm's fifty day simple moving average is $489.94 and its 200-day simple moving average is $506.26.

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.