Circle Wealth Management LLC Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Circle Wealth Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 39.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,510 shares of the semiconductor company's stock after selling 1,627 shares during the quarter. Circle Wealth Management LLC's holdings in Synopsys were worth $1,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Norges Bank acquired a new stake in Synopsys during the 4th quarter valued at approximately $583,608,000. Price T Rowe Associates Inc. MD lifted its holdings in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors bought a new position in Synopsys during the fourth quarter valued at about $239,864,000. Raymond James Financial Inc. bought a new stake in Synopsys in the 4th quarter valued at about $199,065,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNPS shares. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company cut their target price on 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 restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Finally, 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 for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price of $613.43.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys 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 transaction, the insider now directly 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. Insiders own 0.62% of the company's stock.

Synopsys Stock Up 4.7%

Shares of SNPS stock traded up $22.69 on Monday, hitting $505.59. The stock had a trading volume of 1,099,673 shares, compared to its average volume of 1,102,533. The company has a market cap of $78.17 billion, a PE ratio of 34.82, a P/E/G 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 has a 50 day moving average price of $437.18 and a 200 day moving average price of $489.02.

Synopsys Company 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.