Massachusetts Financial Services Co. MA Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Massachusetts Financial Services Co. MA decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,228,842 shares of the semiconductor company's stock after selling 784,152 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.79% of Synopsys worth $596,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Caprock Group LLC increased its stake in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after acquiring an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 20 shares during the last quarter. Edge Capital Group LLC grew its stake in shares of Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after buying an additional 20 shares in the last quarter. Barden Capital Management Inc. increased its stake in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

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Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated 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 directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

Synopsys stock traded down $5.76 during trading hours on Monday, hitting $382.37. 1,523,670 shares of the stock traded hands, compared to its average volume of 1,067,365. Synopsys, Inc. has a 1 year low of $358.15 and a 1 year high of $624.80. The stock has a market capitalization of $59.12 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 3.23 and a beta of 1.23. The firm's 50 day moving average price is $473.83 and its 200-day moving average price is $503.14.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SNPS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Piper Sandler reduced their price target on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $638.58.

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.