First Trust Advisors LP Has $116.95 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

First Trust Advisors LP trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,945 shares of the semiconductor company’s stock after selling 40,734 shares during the quarter. First Trust Advisors LP owned 0.16% of Synopsys worth $116,945,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys during the fourth quarter worth approximately $34,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Bank of America reduced 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. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $618.31.

Synopsys Stock Down 0.6 %

Shares of SNPS stock opened at $413.32 on Monday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock’s fifty day simple moving average is $446.35 and its 200 day simple moving average is $495.09. The firm 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.

Insider Transactions at Synopsys

In other news, 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. 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 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 completion of the sale, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.