Nikko Asset Management Americas Inc. Sells 2,628 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nikko Asset Management Americas Inc. decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,601 shares of the semiconductor company’s stock after selling 2,628 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Synopsys were worth $8,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter worth about $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc raised its stake in shares of Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after buying an additional 59 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock 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 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

NASDAQ SNPS opened at $446.23 on Monday. The stock has a market capitalization of $69.00 billion, a PE ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $495.89 and a two-hundred day simple moving average of $508.30. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 in the last quarter. 0.62% of the stock is owned by corporate insiders.

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.