Envestnet Asset Management Inc. Sells 7,605 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Envestnet Asset Management Inc. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,094 shares of the semiconductor company's stock after selling 7,605 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Synopsys worth $84,498,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. Caprock Group LLC raised its position in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after purchasing an additional 20 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC lifted its stake in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares in the last quarter. Barden Capital Management Inc. boosted its holdings in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after buying an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Synopsys Trading Up 1.4 %

NASDAQ SNPS traded up $5.90 during trading on Monday, reaching $427.11. The company's stock had a trading volume of 303,082 shares, compared to its average volume of 1,088,363. The stock has a market capitalization of $66.04 billion, a PE ratio of 29.42, a PEG 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. The business has a 50-day moving average price of $457.51 and a 200-day moving average price of $498.01.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,909 shares of company stock valued at $22,794,835. Insiders own 0.62% of the company's stock.

About Synopsys

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.