DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Position in Synopsys, Inc. (NASDAQ:SNPS)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,074 shares of the semiconductor company's stock after selling 21,513 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.26% of Synopsys worth $195,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in Synopsys in the 3rd quarter worth approximately $253,000. Principal Financial Group Inc. grew its position in Synopsys by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 247,966 shares of the semiconductor company's stock worth $125,568,000 after purchasing an additional 2,655 shares during the period. Diversified Trust Co grew its position in Synopsys by 9.3% during the 4th quarter. Diversified Trust Co now owns 3,275 shares of the semiconductor company's stock worth $1,590,000 after purchasing an additional 278 shares during the period. Northcape Capital Pty Ltd acquired a new stake in Synopsys during the 4th quarter worth about $1,307,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Synopsys by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,998 shares of the semiconductor company's stock worth $9,620,000 after purchasing an additional 264 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNPS. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a "buy" rating and a $600.00 price objective on the stock. Rosenblatt Securities restated a "buy" rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Finally, KeyCorp dropped their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and an average price target of $613.43.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of SNPS stock traded up $8.70 on Tuesday, hitting $514.29. 300,805 shares of the stock traded hands, compared to its average volume of 1,099,407. The firm's 50-day moving average price is $438.34 and its two-hundred day moving average price is $489.05. The stock has a market capitalization of $79.52 billion, a PE ratio of 35.42, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

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.