Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Axa S.A.

Axa S.A. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,340 shares of the semiconductor company's stock after selling 50,655 shares during the period. Axa S.A.'s holdings in Synopsys were worth $36,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys in the 4th quarter valued at about $34,000. Sierra Ocean LLC acquired a new position in Synopsys during the 4th quarter valued at about $39,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 2.8 %

Shares of Synopsys stock opened at $472.28 on Friday. The stock has a market cap of $73.02 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The business has a fifty day simple moving average of $434.61 and a 200-day simple moving average of $489.85.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the company's 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 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 position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. KeyCorp decreased their target price on Synopsys from $690.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. 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. Finally, Bank of America lowered their price objective 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. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.