The Manufacturers Life Insurance Company Sells 43,524 Shares of Synopsys, Inc. (NASDAQ:SNPS)

The Manufacturers Life Insurance Company trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 24.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,561 shares of the semiconductor company’s stock after selling 43,524 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Synopsys worth $66,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its position in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Pacifica Partners Inc. bought a new position in Synopsys in the 3rd quarter worth $25,000. Tsfg LLC raised its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys in the second quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of Synopsys stock opened at $547.74 on Thursday. The stock has a 50 day moving average price of $524.12 and a 200-day moving average price of $545.71. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market cap of $84.14 billion, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price 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 for the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $653.80.

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.