Blueshift Asset Management LLC Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Blueshift Asset Management LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 984 shares of the semiconductor company’s stock after selling 40 shares during the period. Blueshift Asset Management LLC’s holdings in Synopsys were worth $478,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Talos Asset Management LP purchased a new position in shares of Synopsys in the 4th quarter worth $16,842,000. Royal London Asset Management Ltd. raised its position in shares of Synopsys by 2.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 168,251 shares of the semiconductor company’s stock worth $81,662,000 after buying an additional 4,092 shares during the period. Algebris UK Ltd purchased a new position in shares of Synopsys in the 4th quarter worth $597,000. Generali Investments Management Co LLC purchased a new position in shares of Synopsys in the 4th quarter worth $889,000. Finally, Investment House LLC increased its holdings in Synopsys by 247.9% in the 4th quarter. Investment House LLC now owns 4,989 shares of the semiconductor company’s stock valued at $2,421,000 after purchasing an additional 3,555 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of Synopsys stock opened at $449.99 on Friday. The business has a 50-day moving average of $492.07 and a 200-day moving average of $506.55. The company has a market capitalization of $69.58 billion, a PE ratio of 30.99, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80.

Insider Buying and Selling

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 value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company 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 for the company in a report on Monday, February 24th. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Finally, Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Company 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.