Fmr LLC Sells 935,213 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fmr LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 21.2% in the third quarter, HoldingsChannel.com reports. The firm owned 3,474,790 shares of the semiconductor company’s stock after selling 935,213 shares during the quarter. Fmr LLC’s holdings in Synopsys were worth $1,759,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SNPS. Silvercrest Asset Management Group LLC raised its position in shares of Synopsys by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock valued at $2,332,000 after buying an additional 488 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Synopsys by 39.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $914,000 after buying an additional 453 shares in the last quarter. Tidal Investments LLC raised its position in shares of Synopsys by 3.2% in the 1st quarter. Tidal Investments LLC now owns 6,833 shares of the semiconductor company’s stock valued at $3,905,000 after buying an additional 215 shares in the last quarter. Comerica Bank raised its position in shares of Synopsys by 5.6% in the 1st quarter. Comerica Bank now owns 33,770 shares of the semiconductor company’s stock valued at $19,300,000 after buying an additional 1,787 shares in the last quarter. Finally, Wahed Invest LLC increased its position in Synopsys by 16.2% during the 1st quarter. Wahed Invest LLC now owns 3,011 shares of the semiconductor company’s stock worth $1,721,000 after purchasing an additional 419 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS opened at $553.95 on Wednesday. The company’s 50 day moving average price is $523.08 and its two-hundred day moving average price is $545.69. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $85.09 billion, a price-to-earnings ratio of 57.46, a PEG ratio of 3.43 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company started coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $644.36.

Synopsys 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.