Metropolitan Life Insurance Co NY trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,637 shares of the semiconductor company’s stock after selling 180 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Synopsys were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Freedom Wealth Alliance LLC bought a new position in shares of Synopsys during the 4th quarter worth about $26,000. Altshuler Shaham Ltd acquired a new stake in Synopsys during the second quarter worth about $28,000. VitalStone Financial LLC bought a new position in Synopsys during the first quarter valued at about $30,000. Ancora Advisors LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $30,000. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Synopsys during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Synopsys from $491.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Stifel Nicolaus lifted their target price on shares of Synopsys from $445.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Rosenblatt Securities reissued a “buy” rating and issued a $485.00 price target on shares of Synopsys in a research report on Wednesday, August 23rd. HSBC initiated coverage on shares of Synopsys in a research note on Friday, September 29th. They set a “buy” rating and a $551.00 price target for the company. Finally, Morgan Stanley initiated coverage on Synopsys in a research note on Friday, November 10th. They issued an “overweight” rating and a $600.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $506.45.
Insider Activity at Synopsys
In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $460.75, for a total value of $2,349,825.00. Following the transaction, the chief accounting officer now owns 16,793 shares of the company’s stock, valued at $7,737,374.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John F. Runkel, Jr. sold 2,507 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $455.00, for a total value of $1,140,685.00. Following the completion of the sale, the insider now owns 24,732 shares of the company’s stock, valued at $11,253,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sudhindra Kankanwadi sold 5,100 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $460.75, for a total transaction of $2,349,825.00. Following the completion of the transaction, the chief accounting officer now owns 16,793 shares of the company’s stock, valued at approximately $7,737,374.75. The disclosure for this sale can be found here. Insiders sold 17,469 shares of company stock valued at $8,244,769 in the last three months. Corporate insiders own 0.69% of the company’s stock.
Synopsys Trading Up 1.3 %
NASDAQ:SNPS opened at $541.52 on Tuesday. The stock has a market capitalization of $82.37 billion, a P/E ratio of 81.19, a price-to-earnings-growth ratio of 3.62 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $312.25 and a 1 year high of $544.72. The firm has a 50 day moving average of $478.70 and a 200-day moving average of $449.84.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
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