Envestnet Portfolio Solutions Inc. Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,359 shares of the semiconductor company’s stock after selling 104 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Synopsys were worth $6,484,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SNPS shares. Rosenblatt Securities restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated 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 owns 1,460 shares of the company’s stock, 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 have sold 47,909 shares of company stock valued at $22,794,835 over the last ninety days. Insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $453.51 on Tuesday. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The stock has a market capitalization of $70.12 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s fifty day moving average is $494.94 and its 200 day moving average is $507.85.

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.