ProShare Advisors LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

ProShare Advisors LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 18.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 208,271 shares of the semiconductor company's stock after acquiring an additional 31,927 shares during the period. ProShare Advisors LLC owned 0.13% of Synopsys worth $101,086,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Capital World Investors grew its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD increased its position in Synopsys by 21.5% in the 4th 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 acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC raised its stake in shares of Synopsys by 2.3% during 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. raised its stake in shares of Synopsys by 26.2% during 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $0.40 during trading on Tuesday, hitting $515.61. 739,333 shares of the company traded hands, compared to its average volume of 1,231,023. The firm has a market capitalization of $79.72 billion, a price-to-earnings ratio of 35.51, a P/E/G ratio of 3.23 and a beta of 1.16. The business's fifty day moving average is $446.11 and its 200 day moving average is $488.94. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's 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 completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNPS. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Bank of America lowered their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Mizuho decreased their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $614.86.

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.