Accent Capital Management LLC Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Accent Capital Management LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,803 shares of the semiconductor company’s stock after selling 64 shares during the quarter. Accent Capital Management LLC’s holdings in Synopsys were worth $875,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peloton Wealth Strategists increased its holdings in 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 acquiring an additional 1,984 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Synopsys by 15.9% during the fourth quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP raised its position in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Synopsys by 53.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock valued at $13,304,000 after buying an additional 9,124 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ:SNPS opened at $437.95 on Friday. The company’s 50-day moving average is $485.62 and its two-hundred day moving average is $505.27. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $425.73 and a 1-year high of $624.80.

Analyst Ratings Changes

A number of brokerages have commented on SNPS. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 transaction, the executive now owns 1,460 shares of the company’s stock, 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 SEC, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Synopsys Company 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.