Wells Fargo & Company MN Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Wells Fargo & Company MN lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,321 shares of the semiconductor company’s stock after selling 37,258 shares during the quarter. Wells Fargo & Company MN owned about 0.13% of Synopsys worth $100,140,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SNPS. Rosenblum Silverman Sutton S F Inc. CA grew its stake in shares of Synopsys by 1.8% in the 4th quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 13,389 shares of the semiconductor company’s stock worth $6,498,000 after buying an additional 243 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 33 shares during the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of Synopsys by 521.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 81,111 shares of the semiconductor company’s stock valued at $39,368,000 after acquiring an additional 68,067 shares in the last quarter. Grant Private Wealth Management Inc purchased a new position in shares of Synopsys in the 4th quarter worth about $224,000. Finally, Motley Fool Asset Management LLC boosted its stake in Synopsys by 14.0% in the 4th quarter. Motley Fool Asset Management LLC now owns 8,207 shares of the semiconductor company’s stock worth $3,983,000 after purchasing an additional 1,007 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock valued at $22,794,835. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $380.90 on Tuesday. The company has a market cap of $58.89 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a fifty day moving average price of $471.23 and a 200-day moving average price of $502.20.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

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.