Toronto Dominion Bank Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Toronto Dominion Bank lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 78,533 shares of the semiconductor company's stock after selling 5,460 shares during the period. Toronto Dominion Bank owned 0.05% of Synopsys worth $38,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Capital World Investors boosted its holdings in Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after buying an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% in the fourth 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 buying an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Synopsys by 2.3% during the 4th 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. grew its holdings in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the firm's 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 directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This trade represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This 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.

Synopsys Stock Down 1.6%

SNPS traded down $7.44 during trading on Thursday, hitting $454.99. The company had a trading volume of 4,314,126 shares, compared to its average volume of 1,134,260. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm's 50-day moving average price is $453.45 and its 200 day moving average price is $487.42. The company has a market capitalization of $70.35 billion, a PE ratio of 31.34, a PEG ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the topic of several research analyst reports. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Rosenblatt Securities cut their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $609.64.

Synopsys 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.