Comerica Bank Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Comerica Bank decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,873 shares of the semiconductor company's stock after selling 2,949 shares during the period. Comerica Bank's holdings in Synopsys were worth $14,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its position in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company's stock valued at $509,261,000 after acquiring an additional 143,284 shares during the period. James Hambro & Partners LLP increased its holdings in Synopsys by 30.9% in the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company's stock valued at $97,725,000 after buying an additional 47,527 shares during the period. Synovus Financial Corp raised its position in Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after purchasing an additional 10,028 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Synopsys in the fourth quarter valued at about $6,082,000. Finally, Artemis Investment Management LLP increased its position in Synopsys by 4.5% during the 4th quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company's stock worth $12,075,000 after purchasing an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Mizuho lowered their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Finally, Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and a consensus price target of $613.43.

Synopsys Stock Up 2.8 %

Shares of NASDAQ SNPS traded up $12.92 during mid-day trading on Friday, reaching $472.28. 1,293,592 shares of the company were exchanged, compared to its average volume of 1,096,829. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a market cap of $73.02 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 3.23 and a beta of 1.23. The firm has a 50-day moving average of $434.61 and a 200 day moving average of $489.75.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

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.