FIL Ltd Sells 19,900 Shares of Synopsys, Inc. (NASDAQ:SNPS)

FIL Ltd trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 65.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,368 shares of the semiconductor company's stock after selling 19,900 shares during the quarter. FIL Ltd's holdings in Synopsys were worth $5,032,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP raised its position in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after buying an additional 47,527 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Synopsys by 199.2% during the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after acquiring an additional 10,028 shares during the last quarter. Janney Capital Management LLC purchased a new position in Synopsys in the fourth quarter worth $6,082,000. Finally, Artemis Investment Management LLP increased its stake in Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock valued at $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. The trade was a 13.81 % 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, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNPS. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday. KeyCorp lowered their price objective on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $618.31.

Synopsys Price Performance

SNPS traded down $2.33 during midday trading on Friday, reaching $413.32. 1,002,399 shares of the company's stock traded hands, compared to its average volume of 1,091,993. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The firm has a fifty day moving average of $448.67 and a two-hundred day moving average of $495.67. The stock has a market capitalization of $63.91 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23.

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.