Fmr LLC Sells 935,213 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fmr LLC lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 21.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,474,790 shares of the semiconductor company’s stock after selling 935,213 shares during the quarter. Fmr LLC owned approximately 2.26% of Synopsys worth $1,759,599,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Davidson Capital Management Inc. lifted its position in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Swiss National Bank increased its stake in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after buying an additional 3,200 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter worth about $633,469,000. Finally, Jacobs & Co. CA bought a new position in shares of Synopsys in the 3rd quarter valued at about $10,554,000. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNPS. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Wells Fargo & Company began coverage on Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Piper Sandler dropped their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Stock Performance

Shares of SNPS stock opened at $553.95 on Wednesday. The company has a market capitalization of $85.09 billion, a price-to-earnings ratio of 57.46, a PEG ratio of 3.43 and a beta of 1.08. The company has a 50-day simple moving average of $523.08 and a 200 day simple moving average of $545.69. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

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.