Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,433 shares of the semiconductor company’s stock after selling 383 shares during the period. Freedom Investment Management Inc.’s holdings in Synopsys were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co raised its stake in Synopsys by 44.8% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company’s stock valued at $368,000 after buying an additional 225 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth about $253,000. Wilmington Savings Fund Society FSB purchased a new stake in Synopsys during the third quarter worth approximately $865,000. Blankinship & Foster LLC acquired a new position in Synopsys in the third quarter valued at approximately $2,772,000. Finally, Synovus Financial Corp increased its stake in Synopsys by 199.2% in 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $618.31.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s 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 sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Down 0.6 %

NASDAQ SNPS opened at $413.32 on Friday. The stock has a market capitalization of $63.91 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a 50-day moving average price of $446.35 and a 200 day moving average price of $495.11.

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.