Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,671 shares of the semiconductor company’s stock after selling 115 shares during the quarter. Wedbush Securities Inc.’s holdings in Synopsys were worth $3,723,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SNPS. Peloton Wealth Strategists lifted its position in shares of Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP boosted its stake in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock worth $13,304,000 after buying an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after buying an additional 10,028 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 7.1 %

Synopsys stock opened at $388.13 on Friday. The firm 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 1.16. The firm has a fifty day moving average of $473.83 and a 200-day moving average of $503.08. Synopsys, Inc. has a 52-week low of $387.41 and a 52-week high of $624.80.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $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 have sold a total of 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Morgan Stanley cut their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.