Nicholas Investment Partners LP Sells 700 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nicholas Investment Partners LP decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,549 shares of the semiconductor company's stock after selling 700 shares during the quarter. Nicholas Investment Partners LP's holdings in Synopsys were worth $7,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC acquired a new stake in Synopsys in the 4th quarter worth about $640,000. Nuveen Asset Management LLC grew its holdings in shares of Synopsys by 12.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock worth $820,987,000 after purchasing an additional 182,115 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in Synopsys by 54.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 310,616 shares of the semiconductor company's stock valued at $150,761,000 after purchasing an additional 109,785 shares during the period. Obermeyer Wealth Partners lifted its position in Synopsys by 3.6% in the fourth quarter. Obermeyer Wealth Partners now owns 890 shares of the semiconductor company's stock valued at $432,000 after purchasing an additional 31 shares during the period. Finally, Maytus Capital Management LLC acquired a new stake in Synopsys in the fourth quarter valued at about $485,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Performance

NASDAQ:SNPS traded up $0.18 during mid-day trading on Monday, reaching $514.61. 219,853 shares of the company's stock were exchanged, compared to its average volume of 1,104,419. The firm has a market capitalization of $79.57 billion, a PE ratio of 35.44, a price-to-earnings-growth 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. The business's fifty day simple moving average is $444.44 and its two-hundred day simple moving average is $488.96.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 completion of the sale, 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNPS. Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Bank of America cut their price objective 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. KeyCorp cut their price objective on shares of Synopsys from $690.00 to $555.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Mizuho cut their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price of $613.43.

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.