Kornitzer Capital Management Inc. KS Sells 650 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Kornitzer Capital Management Inc. KS trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,526 shares of the semiconductor company's stock after selling 650 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Synopsys were worth $8,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SNPS. nVerses Capital LLC purchased a new stake in Synopsys during the 3rd quarter valued at about $51,000. Trilogy Capital Inc. grew its position in Synopsys by 58.1% during the 3rd quarter. Trilogy Capital Inc. now owns 3,001 shares of the semiconductor company's stock valued at $1,520,000 after purchasing an additional 1,103 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Synopsys during the 3rd quarter valued at about $58,000. Foundations Investment Advisors LLC grew its position in Synopsys by 2.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,368 shares of the semiconductor company's stock valued at $693,000 after purchasing an additional 33 shares during the last quarter. Finally, Graybill Wealth Management LTD. grew its position in Synopsys by 2.3% during the 3rd quarter. Graybill Wealth Management LTD. now owns 14,251 shares of the semiconductor company's stock valued at $7,217,000 after purchasing an additional 320 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNPS. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective on the stock. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $19.13 during trading on Friday, hitting $474.84. The company's stock had a trading volume of 1,370,372 shares, compared to its average volume of 1,066,749. The company has a 50-day moving average of $510.88 and a 200-day moving average of $517.44. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 3.28 and a beta of 1.12.

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.