Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 39.0% in the fourth quarter, according to its most recent 13F filing with the Securities and 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wisconsin Capital Management LLC lifted its stake in Synopsys by 1.7% during the fourth quarter. Wisconsin Capital Management LLC now owns 1,582 shares of the semiconductor company’s stock worth $768,000 after purchasing an additional 27 shares in the last quarter. Trexquant Investment LP acquired a new position in Synopsys during the 4th quarter worth about $17,792,000. Boston Family Office LLC boosted its holdings in Synopsys by 1.0% during the 4th quarter. Boston Family Office LLC now owns 4,405 shares of the semiconductor company’s stock valued at $2,138,000 after acquiring an additional 42 shares during the period. Geode Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after acquiring an additional 75,298 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in Synopsys by 6.3% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 97,680 shares of the semiconductor company’s stock worth $47,419,000 after purchasing an additional 5,773 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

NASDAQ SNPS opened at $438.55 on Thursday. The company has a fifty day moving average of $479.67 and a two-hundred day moving average of $504.45. The company has a market capitalization of $67.81 billion, a PE ratio of 30.20, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $422.65 and a 1 year high of $624.80.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNPS. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 in the last three months. 0.62% of the stock is currently owned by company 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.