Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 78,533 shares of the semiconductor company's stock after selling 5,460 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Synopsys worth $38,116,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys during the 4th quarter valued at $34,000. Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter valued at $39,000. Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, 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 owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction 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 $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 owned by company insiders.

Analyst Ratings Changes

SNPS has been the subject of a number of recent analyst reports. Mizuho lowered 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. KeyCorp set a $575.00 price objective on shares of Synopsys and gave the company an "overweight" rating in a report on Tuesday. 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 research note on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. Finally, Bank of America lowered their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a 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 stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and an average price target of $614.86.

Synopsys Stock Down 0.6%

Shares of NASDAQ SNPS traded down $2.98 during midday trading on Friday, reaching $500.50. 313,787 shares of the company's stock traded hands, compared to its average volume of 1,104,950. The company has a market cap of $77.39 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.16. The stock's 50 day simple moving average is $449.95 and its 200-day simple moving average is $489.07. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

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.