Swedbank AB lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,506,201 shares of the semiconductor company's stock after selling 47,261 shares during the quarter. Synopsys makes up 0.9% of Swedbank AB's holdings, making the stock its 20th largest holding. Swedbank AB owned about 0.97% of Synopsys worth $731,050,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Parnassus Investments LLC bought a new position in Synopsys during the 3rd quarter worth about $633,469,000. Edgewood Management LLC increased its holdings in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc grew its position in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after purchasing an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.
Synopsys Trading Down 2.5 %
SNPS traded down $13.41 on Wednesday, hitting $512.71. 891,293 shares of the company's stock were exchanged, compared to its average volume of 1,140,070. The firm has a 50-day moving average price of $518.25 and a 200-day moving average price of $521.60. The stock has a market cap of $79.25 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.
Insider Buying and Selling
In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective on the stock. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They set a "buy" rating and a $600.00 target price on the stock. Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.82.
View Our Latest Report on Synopsys
About Synopsys
(
Free Report)
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.
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