Toronto Dominion Bank Sells 5,460 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Toronto Dominion Bank trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 78,533 shares of the semiconductor company’s stock after selling 5,460 shares during the period. Toronto Dominion Bank’s holdings in Synopsys were worth $38,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Synopsys in the 4th quarter valued at $583,608,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Synopsys in the fourth quarter valued at about $239,864,000. Raymond James Financial Inc. bought a new position in shares of Synopsys in the fourth quarter valued at about $199,065,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after buying an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

SNPS opened at $514.43 on Monday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a market cap of $79.54 billion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business’s fifty day moving average is $444.44 and its 200-day moving average is $488.96.

Analyst Ratings Changes

A number of brokerages recently commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. KeyCorp dropped their price target on Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $613.43.

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.