Ngam Advisors L.P. reduced its position in shares of Synopsys Inc. (NASDAQ:SNPS) by 6.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 120,607 shares of the company’s stock after selling 8,645 shares during the period. Ngam Advisors L.P. owned about 0.08% of Synopsys worth $7,158,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Synopsys by 2.9% in the second quarter. Vanguard Group Inc. now owns 11,522,670 shares of the company’s stock worth $623,146,000 after buying an additional 322,407 shares in the last quarter. BlackRock Fund Advisors raised its position in Synopsys by 8.5% in the second quarter. BlackRock Fund Advisors now owns 8,114,931 shares of the company’s stock worth $438,855,000 after buying an additional 638,798 shares in the last quarter. Principal Financial Group Inc. raised its position in Synopsys by 17.3% in the second quarter. Principal Financial Group Inc. now owns 1,752,739 shares of the company’s stock worth $94,788,000 after buying an additional 258,866 shares in the last quarter. Bank of New York Mellon Corp raised its position in Synopsys by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,554,172 shares of the company’s stock worth $92,240,000 after buying an additional 10,791 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Synopsys by 39.2% in the second quarter. Victory Capital Management Inc. now owns 1,533,075 shares of the company’s stock worth $82,908,000 after buying an additional 431,784 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Shares of Synopsys Inc. (NASDAQ:SNPS) traded down 0.38% during midday trading on Wednesday, reaching $60.94. 612,221 shares of the company’s stock traded hands. Synopsys Inc. has a 52-week low of $39.26 and a 52-week high of $62.00. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 38.86 and a beta of 0.88. The stock has a 50 day moving average of $59.60 and a 200-day moving average of $56.33.

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SNPS has been the topic of a number of recent analyst reports. DA Davidson reissued a “buy” rating and issued a $75.00 price target (up previously from $64.00) on shares of Synopsys in a research report on Wednesday, October 12th. Credit Suisse Group AG initiated coverage on shares of Synopsys in a research report on Wednesday, October 19th. They issued an “outperform” rating and a $68.00 price target on the stock. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Pacific Crest boosted their target price on shares of Synopsys from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $66.00 target price on shares of Synopsys in a research report on Tuesday, November 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.10.

In other news, EVP Brian M. Beattie sold 63,125 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $59.18, for a total value of $3,735,737.50. Following the completion of the sale, the executive vice president now owns 74,500 shares of the company’s stock, valued at approximately $4,408,910. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alfred Castino sold 10,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $58.44, for a total value of $584,400.00. Following the completion of the sale, the director now directly owns 27,982 shares of the company’s stock, valued at approximately $1,635,268.08. The disclosure for this sale can be found here. 1.62% of the stock is owned by insiders.

About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

5 Day Chart for NASDAQ:SNPS

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