J. Safra Sarasin Holding AG Sells 5,235 Shares of Synopsys, Inc. (NASDAQ:SNPS)

J. Safra Sarasin Holding AG decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,273 shares of the semiconductor company’s stock after selling 5,235 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Synopsys were worth $24,401,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury grew its stake in Synopsys by 36.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 48,787 shares of the semiconductor company’s stock worth $23,679,000 after purchasing an additional 13,092 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Synopsys by 23.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 38,611 shares of the semiconductor company’s stock valued at $18,740,000 after purchasing an additional 7,401 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Synopsys by 33.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,501 shares of the semiconductor company’s stock worth $6,067,000 after purchasing an additional 3,131 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Synopsys in the 4th quarter valued at about $222,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Synopsys by 516.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 154 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 129 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’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 sale, the chief executive officer now owns 70,922 shares in the company, 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. 0.62% of the stock is owned by insiders.

Synopsys Trading Down 0.6 %

Shares of Synopsys stock opened at $413.32 on Monday. The firm has a market capitalization of $63.91 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The business’s fifty day simple moving average is $446.35 and its 200 day simple moving average is $495.09. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80.

Analyst Ratings Changes

A number of brokerages have commented on SNPS. Mizuho reduced their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp decreased their price target on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company decreased 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, Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $618.31.

About Synopsys

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.