Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,891 shares of the semiconductor company’s stock after selling 1,715 shares during the quarter. Synopsys comprises about 1.6% of AMI Asset Management Corp’s investment portfolio, making the stock its 29th biggest position. AMI Asset Management Corp’s holdings in Synopsys were worth $30,525,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Pacifica Partners Inc. purchased a new position in shares of Synopsys during the 3rd quarter worth $25,000. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at $27,000. Tsfg LLC lifted its position in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Synopsys in the 3rd quarter valued at about $44,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’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 value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Up 2.1 %

Shares of NASDAQ:SNPS opened at $526.70 on Tuesday. The company has a 50 day moving average of $519.43 and a two-hundred day moving average of $525.54. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market capitalization of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNPS. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Robert W. Baird dropped 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 reduced their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $641.82.

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.