Franklin Resources Inc. Sells 267,059 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Franklin Resources Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,384,899 shares of the semiconductor company's stock after selling 267,059 shares during the period. Franklin Resources Inc. owned 2.19% of Synopsys worth $1,642,894,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SNPS. Peloton Wealth Strategists raised its position in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock valued at $1,459,000 after buying an additional 1,984 shares in the last quarter. Nordea Investment Management AB increased its stake in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after acquiring an additional 143,284 shares during the last quarter. James Hambro & Partners LLP raised its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after purchasing an additional 47,527 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company's stock worth $13,304,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock worth $7,627,000 after purchasing an additional 10,028 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

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Synopsys Price Performance

NASDAQ:SNPS traded down $24.56 during trading hours on Friday, hitting $393.20. The company had a trading volume of 1,247,963 shares, compared to its average volume of 1,058,936. Synopsys, Inc. has a 52 week low of $391.71 and a 52 week high of $624.80. The company has a market capitalization of $60.80 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock has a 50-day moving average price of $476.99 and a 200 day moving average price of $503.85.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird reduced their target price 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. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $638.58.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the 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 completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at $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 have sold 47,909 shares of company stock valued at $22,794,835. Corporate 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.