Northwest & Ethical Investments L.P. Reduces Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Northwest & Ethical Investments L.P. cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,280 shares of the semiconductor company's stock after selling 1,337 shares during the period. Synopsys comprises approximately 0.7% of Northwest & Ethical Investments L.P.'s holdings, making the stock its 29th largest position. Northwest & Ethical Investments L.P.'s holdings in Synopsys were worth $27,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new position in Synopsys in the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys during the 4th quarter worth $51,000. Finally, Versant Capital Management Inc grew its position in shares of Synopsys by 109.3% during the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company's stock valued at $55,000 after acquiring an additional 59 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on 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 transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 completion of the transaction, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 in the last quarter. 0.62% of the stock is currently owned by insiders.

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Synopsys Price Performance

Shares of SNPS stock traded up $9.17 during trading hours on Monday, hitting $457.77. The stock had a trading volume of 974,180 shares, compared to its average volume of 1,020,637. The stock has a market capitalization of $70.78 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The stock's 50-day moving average price is $490.60 and its two-hundred day moving average price is $506.31.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNPS. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $638.58.

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.