Fifth Third Bancorp Sells 7,817 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fifth Third Bancorp trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,147 shares of the semiconductor company’s stock after selling 7,817 shares during the quarter. Fifth Third Bancorp’s holdings in Synopsys were worth $97,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the third quarter worth approximately $25,000. Kieckhefer Group LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $27,000. Tsfg LLC boosted its position in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Synopsys during the third quarter worth about $44,000. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Finally, Piper Sandler cut their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Down 1.0 %

Shares of SNPS stock opened at $546.19 on Friday. The firm has a market cap of $84.43 billion, a PE ratio of 37.62, a P/E/G ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company’s fifty day simple moving average is $518.17 and its 200-day simple moving average is $524.66.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

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.