Fiduciary Trust Co Has $2.36 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Fiduciary Trust Co decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 35.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,856 shares of the semiconductor company’s stock after selling 2,668 shares during the period. Fiduciary Trust Co’s holdings in Synopsys were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the fourth quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the fourth quarter worth about $34,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.4 %

Shares of Synopsys stock opened at $482.69 on Friday. The business has a 50-day moving average price of $437.18 and a two-hundred day moving average price of $489.10. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a market cap of $74.63 billion, a P/E ratio of 33.24, a PEG ratio of 3.23 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNPS. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $613.43.

Insider Buying and Selling

In related news, 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 transaction of $5,270,982.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, 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. 0.62% of the stock is currently owned by insiders.

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.