Swedbank AB Sells 47,261 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Swedbank AB reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,506,201 shares of the semiconductor company’s stock after selling 47,261 shares during the quarter. Synopsys makes up about 0.9% of Swedbank AB’s portfolio, making the stock its 20th biggest holding. Swedbank AB owned 0.97% of Synopsys worth $731,050,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SNPS. State Street Corp raised its position in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC increased its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares during the period. Edgewood Management LLC raised its holdings in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth $633,469,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on SNPS. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Finally, Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Synopsys Stock Down 1.5 %

SNPS traded down $7.98 during midday trading on Wednesday, hitting $518.14. The company had a trading volume of 87,984 shares, compared to its average volume of 1,092,714. The company has a market capitalization of $80.09 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 3.57 and a beta of 1.12. The stock’s 50 day moving average price is $518.25 and its 200 day moving average price is $521.60. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

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.