Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Geneva Partners LLC

Geneva Partners LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 28.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 503 shares of the semiconductor company’s stock after selling 197 shares during the period. Geneva Partners LLC’s holdings in Synopsys were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter worth about $633,469,000. Edgewood Management LLC boosted its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp grew its holdings in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc increased its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of SNPS opened at $528.42 on Thursday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The business’s fifty day moving average price is $514.82 and its 200 day moving average price is $519.39. The stock has a market capitalization of $81.68 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective 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. Finally, Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

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.