Keybank National Association OH Has $1.25 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Keybank National Association OH decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,575 shares of the semiconductor company’s stock after selling 89 shares during the period. Keybank National Association OH’s holdings in Synopsys were worth $1,250,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC increased its holdings in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Synopsys by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock valued at $577,289,000 after acquiring an additional 81,198 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNPS. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note 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. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note 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 note on Monday, February 24th. Finally, Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Trading Up 1.2 %

Shares of SNPS stock opened at $450.88 on Friday. The stock has a 50 day moving average of $501.21 and a two-hundred day moving average of $512.34. Synopsys, Inc. has a 12 month low of $429.77 and a 12 month high of $624.80. The company has a market capitalization of $69.72 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.23 and a beta of 1.16.

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.