MassMutual Private Wealth & Trust FSB Sells 106 Shares of Synopsys, Inc. (NASDAQ:SNPS)

MassMutual Private Wealth & Trust FSB lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.5% in the 4th quarter, HoldingsChannel reports. The fund owned 501 shares of the semiconductor company’s stock after selling 106 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Synopsys were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. State Street Corp increased its position in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,656,005,000 after buying an additional 61,799 shares in the last quarter. Edgewood Management LLC boosted its holdings in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter valued at about $633,469,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNPS shares. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Finally, Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Buying and Selling

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 shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Synopsys Trading Up 2.8 %

Synopsys stock opened at $544.70 on Thursday. The firm has a market cap of $84.20 billion, a PE ratio of 37.51, a P/E/G ratio of 3.45 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock’s 50 day simple moving average is $518.37 and its two-hundred day simple moving average is $524.33.

About Synopsys

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.