UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 23,640 Shares of Synopsys, Inc. (NASDAQ:SNPS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,510,830 shares of the semiconductor company’s stock after selling 23,640 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Synopsys were worth $733,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Waverly Advisors LLC raised its stake in shares of Synopsys by 447.6% during the fourth quarter. Waverly Advisors LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,523 shares during the last quarter. Whelan Financial bought a new stake in shares of Synopsys during the fourth quarter worth approximately $292,000. Williams Jones Wealth Management LLC. raised its stake in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company’s stock worth $2,257,000 after buying an additional 22 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Synopsys during the fourth quarter worth approximately $8,453,000. Finally, Sone Capital Management LLC bought a new stake in shares of Synopsys during the fourth quarter worth approximately $17,116,000. 85.47% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Geus Aart De sold 15,705 shares of the 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 transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 owns 70,922 shares of the company’s stock, valued at $32,890,077.50. The trade was a 13.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNPS. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp upped their target price on shares of Synopsys from $555.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company lowered 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 note on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $614.86.

Synopsys Stock Down 0.1%

Synopsys stock opened at $515.61 on Wednesday. The stock has a market capitalization of $79.72 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The company has a 50 day moving average of $447.85 and a 200-day moving average of $489.13.

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.