Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,384,899 shares of the semiconductor company’s stock after selling 267,059 shares during the quarter. Franklin Resources Inc. owned approximately 2.19% of Synopsys worth $1,642,894,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SNPS. B. Metzler seel. Sohn & Co. AG raised its holdings in Synopsys by 6.3% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 97,680 shares of the semiconductor company’s stock valued at $47,419,000 after acquiring an additional 5,773 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Synopsys by 14.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 25,863 shares of the semiconductor company’s stock worth $12,553,000 after acquiring an additional 3,321 shares during the period. AIA Group Ltd grew its holdings in shares of Synopsys by 15.2% in the fourth quarter. AIA Group Ltd now owns 13,186 shares of the semiconductor company’s stock valued at $6,400,000 after purchasing an additional 1,737 shares during the period. Hazlett Burt & Watson Inc. increased its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Synopsys by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 1,057,760 shares of the semiconductor company’s stock valued at $513,394,000 after purchasing an additional 9,051 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Robert W. Baird dropped their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was 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 owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The transaction 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 dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock valued at $22,794,835 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Down 1.9 %

Shares of Synopsys stock opened at $437.95 on Monday. The company’s 50-day simple moving average is $485.62 and its 200-day simple moving average is $505.72. The firm has a market cap of $67.72 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80.

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.