Fmr LLC Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fmr LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,002,759 shares of the semiconductor company’s stock after selling 472,031 shares during the period. Fmr LLC owned 1.94% of Synopsys worth $1,457,419,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new stake in Synopsys during the fourth quarter valued at $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys during the fourth quarter worth about $34,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Synopsys by 28.6% in 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 in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’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 transaction 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 $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now 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. Over the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Down 7.1 %

Shares of SNPS opened at $388.13 on Monday. The stock has a market capitalization of $60.01 billion, a P/E ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a twelve month low of $358.15 and a twelve month high of $624.80. The firm has a fifty day simple moving average of $473.83 and a two-hundred day simple moving average of $503.14.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price 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.