Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Cut by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 39.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,945 shares of the semiconductor company's stock after selling 4,547 shares during the period. Gotham Asset Management LLC's holdings in Synopsys were worth $3,371,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $140,000. Accurate Wealth Management LLC boosted its position in Synopsys by 14.8% during the fourth quarter. Accurate Wealth Management LLC now owns 939 shares of the semiconductor company's stock worth $463,000 after purchasing an additional 121 shares in the last quarter. Floyd Financial Group LLC acquired a new stake in Synopsys in the fourth quarter valued at $647,000. CCLA Investment Management increased its stake in shares of Synopsys by 22.1% during the 4th quarter. CCLA Investment Management now owns 285,047 shares of the semiconductor company's stock worth $138,222,000 after purchasing an additional 51,620 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new position in Synopsys during the fourth quarter worth $1,019,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNPS. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. KeyCorp upped their target price on Synopsys from $555.00 to $575.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $614.86.

Synopsys Stock Down 0.6%

Shares of NASDAQ:SNPS traded down $3.20 during trading on Tuesday, hitting $512.81. 207,557 shares of the company traded hands, compared to its average volume of 1,103,364. The business's fifty day moving average is $446.11 and its 200-day moving average is $488.94. The stock has a market capitalization of $79.29 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Insiders Place Their Bets

In other news, 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 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. The trade was a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

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.