Fiduciary Trust Co Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fiduciary Trust Co trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 35.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,856 shares of the semiconductor company's stock after selling 2,668 shares during the period. Fiduciary Trust Co's holdings in Synopsys were worth $2,357,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the last quarter. Capital World Investors raised its position in Synopsys by 1.6% in the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 2.3% in 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 acquiring an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SNPS shares. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. KeyCorp reduced their price objective on Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Bank of America cut their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $613.43.

Synopsys Stock Up 2.0%

NASDAQ:SNPS traded up $10.12 during midday trading on Tuesday, hitting $515.71. The stock had a trading volume of 823,341 shares, compared to its average volume of 1,103,636. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The stock has a 50-day moving average of $438.34 and a 200 day moving average of $489.05. The company has a market capitalization of $79.74 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 3.23 and a beta of 1.16.

Insider Activity

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 transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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. 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.