MassMutual Private Wealth & Trust FSB Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

MassMutual Private Wealth & Trust FSB reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 17.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 501 shares of the semiconductor company’s stock after selling 106 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Synopsys were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SNPS. Davidson Capital Management Inc. grew its position in 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 acquiring an additional 4,736 shares in the last quarter. Peloton Wealth Strategists boosted its holdings in shares of Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank increased its position in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new stake in Synopsys during the 3rd quarter valued at $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its position in Synopsys by 3.7% in the third 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 during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

SNPS stock opened at $544.70 on Thursday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business has a 50-day moving average price of $518.37 and a 200 day moving average price of $524.33. The company has a market capitalization of $84.20 billion, a P/E ratio of 37.51, a PEG ratio of 3.45 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.