Franklin Resources Inc. Sells 301,342 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Franklin Resources Inc. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,651,958 shares of the semiconductor company's stock after selling 301,342 shares during the quarter. Franklin Resources Inc. owned approximately 2.38% of Synopsys worth $1,991,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. ORG Partners LLC boosted its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new position in shares of Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC grew its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc bought a new stake in shares of Synopsys during the second quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after buying an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 target price for the company. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company started coverage on Synopsys in a research report on Friday, November 22nd. They set an "equal weight" rating and a $570.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.00.

Synopsys Stock Performance

NASDAQ:SNPS traded down $3.45 during mid-day trading on Friday, hitting $508.28. The stock had a trading volume of 1,214,594 shares, compared to its average volume of 1,077,945. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market cap of $78.08 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 3.43 and a beta of 1.08. The company's 50 day simple moving average is $530.80 and its 200 day simple moving average is $543.13.

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.