Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by AlphaCore Capital LLC

AlphaCore Capital LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,919 shares of the semiconductor company's stock after selling 531 shares during the quarter. AlphaCore Capital LLC's holdings in Synopsys were worth $2,387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors raised 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 acquiring an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its position in Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after acquiring an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in 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 acquiring an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction 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 of the company's stock, valued at $51,850,925.82. The trade was a 11.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research analyst reports. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Bank of America reduced their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $614.86.

Synopsys Stock Up 2.6%

NASDAQ SNPS traded up $12.94 during trading hours on Tuesday, hitting $511.79. 1,251,833 shares of the stock were exchanged, compared to its average volume of 1,105,874. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a 50-day moving average of $451.94 and a 200 day moving average of $487.43. The company has a market cap of $79.13 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.