Ensign Peak Advisors Inc Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Ensign Peak Advisors Inc lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,986 shares of the semiconductor company’s stock after selling 34,756 shares during the quarter. Ensign Peak Advisors Inc owned 0.08% of Synopsys worth $58,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Synopsys in the 4th quarter worth about $583,608,000. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $239,864,000. Raymond James Financial Inc. bought a new position in Synopsys during the fourth quarter valued at approximately $199,065,000. Finally, Ameriprise Financial Inc. boosted its holdings in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNPS. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. KeyCorp cut their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $613.43.

Synopsys Trading Down 0.4 %

Shares of SNPS opened at $482.69 on Friday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market capitalization of $74.63 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s 50 day moving average is $437.18 and its 200 day moving average is $489.10.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the firm’s 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 completion of the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% 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.