Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 206,321 shares of the semiconductor company's stock after selling 37,258 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Synopsys worth $100,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Caprock Group LLC grew its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after buying an additional 20 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in shares of 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 acquiring an additional 20 shares in the last quarter. Edge Capital Group LLC grew its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after acquiring an additional 20 shares during the period. Barden Capital Management Inc. increased its stake in shares of Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after purchasing an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% in the 4th 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 in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Up 3.5 %

SNPS traded up $14.32 during trading on Friday, reaching $421.21. The company's stock had a trading volume of 1,745,597 shares, compared to its average volume of 1,091,393. The company has a market cap of $65.13 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.23. The firm has a fifty day simple moving average of $457.51 and a two-hundred day simple moving average of $498.01. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Wall Street Analyst Weigh In

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