Hartford Investment Management Co. Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Hartford Investment Management Co. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,499 shares of the semiconductor company’s stock after selling 144 shares during the quarter. Hartford Investment Management Co.’s holdings in Synopsys were worth $4,610,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the period. Geode Capital Management LLC grew its position in Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC increased its stake in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp lifted its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of Synopsys in the third quarter valued at approximately $633,469,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $509.71 on Thursday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $78.79 billion, a P/E ratio of 35.10, a PEG ratio of 3.49 and a beta of 1.12. The business’s 50-day simple moving average is $511.98 and its 200-day simple moving average is $518.22.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird decreased their target price 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 cut their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

About Synopsys

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.