Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,986 shares of the semiconductor company's stock after selling 34,756 shares during the period. Ensign Peak Advisors Inc owned 0.08% of Synopsys worth $58,236,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after purchasing an additional 120,575 shares during the period. Capital World Investors boosted its stake in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 21.5% during the 4th 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 purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC boosted its stake in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Synopsys by 26.2% during the 4th 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 period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 4.7%

Shares of SNPS traded up $22.69 during trading hours on Monday, reaching $505.59. The company had a trading volume of 1,099,699 shares, compared to its average volume of 1,102,535. The firm has a 50 day simple moving average of $438.34 and a 200-day simple moving average of $489.05. The company has a market capitalization of $78.17 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction 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 trade represents a 13.81% 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 insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNPS. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities restated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. KeyCorp reduced their target price on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $613.43.

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.