Chevy Chase Trust Holdings LLC Has $39.27 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 80,915 shares of the semiconductor company’s stock after selling 1,481 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Synopsys were worth $39,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in Synopsys in the third quarter valued at approximately $44,000. nVerses Capital LLC bought a new position in Synopsys in the third quarter valued at approximately $51,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Synopsys in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Down 1.1 %

NASDAQ SNPS opened at $522.53 on Friday. The business’s 50-day moving average price is $510.67 and its two-hundred day moving average price is $518.23. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.