Shelton Capital Management Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Shelton Capital Management trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,964 shares of the semiconductor company’s stock after selling 250 shares during the period. Shelton Capital Management’s holdings in Synopsys were worth $15,029,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peloton Wealth Strategists raised its holdings in shares of Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Nordea Investment Management AB raised its holdings in Synopsys by 15.9% in the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after buying an additional 143,284 shares during the period. James Hambro & Partners LLP lifted its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock valued at $97,725,000 after buying an additional 47,527 shares in the last quarter. Synovus Financial Corp grew its stake in Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock valued at $22,794,835 over the last three months. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Synopsys Stock Performance

SNPS opened at $380.90 on Tuesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a 50-day moving average of $471.23 and a 200-day moving average of $502.20. The company has a market capitalization of $58.89 billion, a P/E ratio of 26.23, a PEG ratio of 3.23 and a beta of 1.23.

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.