Synopsys, Inc. (NASDAQ:SNPS) Stock Position Trimmed by Fmr LLC

FMR LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,002,759 shares of the semiconductor company's stock after selling 472,031 shares during the quarter. FMR LLC owned about 1.94% of Synopsys worth $1,457,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter worth $583,608,000. Raymond James Financial Inc. purchased a new position in shares of Synopsys in the 4th quarter worth about $199,065,000. Proficio Capital Partners LLC lifted its stake in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company's stock valued at $187,517,000 after purchasing an additional 385,808 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Synopsys during the 4th quarter worth about $104,741,000. Finally, American Century Companies Inc. increased its position in Synopsys by 38.7% during the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company's stock worth $277,371,000 after purchasing an additional 159,344 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % 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. Also, 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 owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNPS shares. Wells Fargo & Company decreased 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. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

Synopsys Stock Up 3.5 %

Shares of SNPS traded up $14.32 during midday trading on Friday, hitting $421.21. The company had a trading volume of 1,745,597 shares, compared to its average volume of 1,090,275. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company's 50 day moving average price is $457.51 and its 200 day moving average price is $498.13. The stock has a market cap of $65.13 billion, a price-to-earnings ratio of 29.01, a PEG 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.