Edgewood Management LLC Sells 19,439 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Edgewood Management LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,050,409 shares of the semiconductor company’s stock after selling 19,439 shares during the quarter. Synopsys makes up approximately 4.3% of Edgewood Management LLC’s investment portfolio, making the stock its 11th largest position. Edgewood Management LLC owned approximately 1.97% of Synopsys worth $1,480,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its stake in shares of Synopsys by 458.9% during the third quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company’s stock valued at $303,000 after acquiring an additional 491 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Synopsys by 39.1% in the 3rd quarter. IHT Wealth Management LLC now owns 858 shares of the semiconductor company’s stock worth $433,000 after buying an additional 241 shares during the period. Wellington Management Group LLP grew its holdings in Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Synopsys by 36.6% during the third quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company’s stock valued at $1,033,000 after purchasing an additional 547 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its position in Synopsys by 5.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 36,709 shares of the semiconductor company’s stock valued at $18,589,000 after acquiring an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $388.13 on Friday. Synopsys, Inc. has a 1 year low of $387.41 and a 1 year high of $624.80. The stock has a market cap of $60.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The firm has a fifty day moving average price of $473.83 and a 200 day moving average price of $503.09.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last quarter. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNPS shares. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.