Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 240,945 shares of the semiconductor company's stock after selling 40,734 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Synopsys worth $116,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co boosted its holdings in Synopsys by 44.8% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company's stock worth $368,000 after buying an additional 225 shares during the period. World Investment Advisors LLC purchased a new stake in Synopsys in the 3rd quarter worth $253,000. Wilmington Savings Fund Society FSB bought a new position in shares of Synopsys during the 3rd quarter valued at about $865,000. Blankinship & Foster LLC purchased a new position in shares of Synopsys during the third quarter valued at about $2,772,000. Finally, Synovus Financial Corp increased its holdings in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after purchasing an additional 10,028 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNPS. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $618.31.

Synopsys Stock Performance

SNPS stock traded up $7.72 during midday trading on Friday, reaching $446.62. The company's stock had a trading volume of 1,032,119 shares, compared to its average volume of 1,087,534. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a market capitalization of $69.06 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.23 and a beta of 1.23. The stock has a fifty day simple moving average of $436.66 and a two-hundred day simple moving average of $492.48.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 completion of the sale, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company 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.