MML Investors Services LLC Sells 1,264 Shares of Synopsys, Inc. (NASDAQ:SNPS)

MML Investors Services LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,172 shares of the semiconductor company's stock after selling 1,264 shares during the quarter. MML Investors Services LLC's holdings in Synopsys were worth $8,820,000 at the end of the most recent reporting period.

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

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $7.72 during trading hours on Friday, hitting $446.62. 1,032,119 shares of the stock were exchanged, compared to its average volume of 1,087,895. The company's fifty day simple moving average is $436.66 and its two-hundred day simple moving average is $492.23. The company has a market cap of $69.06 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80.

Insider Buying and Selling at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SNPS shares. Bank of America dropped their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. Mizuho lowered their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average target price of $618.31.

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.