Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,626 shares of the semiconductor company’s stock after selling 376 shares during the period. E Fund Management Co. Ltd.’s holdings in Synopsys were worth $1,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich grew its position in Synopsys by 78,551.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 41,722,068 shares of the semiconductor company’s stock worth $18,166,206,000 after purchasing an additional 41,669,021 shares during the period. State Street Corp boosted its stake in shares of Synopsys by 2.6% during the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock worth $2,510,213,000 after acquiring an additional 166,992 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,636,421 shares of the semiconductor company’s stock worth $2,177,068,000 after acquiring an additional 246,007 shares in the last quarter. FMR LLC boosted its stake in shares of Synopsys by 14.0% during the 1st quarter. FMR LLC now owns 3,436,957 shares of the semiconductor company’s stock worth $1,327,524,000 after acquiring an additional 420,783 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Synopsys by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock worth $1,250,869,000 after acquiring an additional 52,624 shares in the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNPS. HSBC began coverage on shares of Synopsys in a research note on Friday, September 29th. They set a “buy” rating and a $551.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price target on shares of Synopsys in a research note on Tuesday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Stifel Nicolaus raised their target price on shares of Synopsys from $445.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $485.00 target price on shares of Synopsys in a research note on Wednesday, August 23rd. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $506.45.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $3.62 during midday trading on Tuesday, reaching $537.90. 220,901 shares of the stock were exchanged, compared to its average volume of 840,078. The company has a 50 day simple moving average of $478.70 and a 200 day simple moving average of $449.84. The stock has a market capitalization of $81.81 billion, a P/E ratio of 81.19, a PEG ratio of 3.62 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $312.25 and a twelve month high of $545.57.

Insider Activity at Synopsys

In related news, CAO Sudhindra Kankanwadi sold 7,355 shares of Synopsys stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $491.53, for a total value of $3,615,203.15. Following the completion of the sale, the chief accounting officer now owns 17,029 shares in the company, valued at approximately $8,370,264.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Sudhindra Kankanwadi sold 7,355 shares of Synopsys stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $491.53, for a total value of $3,615,203.15. Following the completion of the sale, the chief accounting officer now owns 17,029 shares in the company, valued at approximately $8,370,264.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 2,507 shares of Synopsys stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $455.00, for a total transaction 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 approximately $11,253,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,469 shares of company stock worth $8,244,769. Insiders own 0.69% of the company’s stock.

Synopsys Company Profile

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.