Latest Stocks: Synopsys, Inc. (SNPS) Shares Sold by Elkfork Partners LLC

Latest Stocks: Synopsys, Inc. (SNPS) Shares Sold by Elkfork Partners LLC

Elkfork Partners LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 44.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,012 shares of the semiconductor company’s stock after selling 3,976 shares during the period. Elkfork Partners LLC’s holdings in Synopsys were worth $362,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SNPS. SRS Capital Advisors Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at about $114,000. TLP Group LLC acquired a new position in Synopsys during the third quarter valued at approximately $123,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Synopsys during the fourth quarter valued at approximately $150,000. Capital Investment Counsel Inc acquired a new position in Synopsys during the third quarter valued at approximately $201,000. Finally, Hartford Investment Management Co. acquired a new position in Synopsys during the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Synopsys, Inc. (SNPS) opened at 75.76 on Tuesday. The company has a market cap of $11.39 billion, a P/E ratio of 42.32 and a beta of 0.87. Synopsys, Inc. has a 52 week low of $50.97 and a 52 week high of $76.25. The stock has a 50 day moving average of $73.61 and a 200 day moving average of $67.43.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. JPMorgan Chase & Co. restated an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective (up previously from $77.00) on shares of Synopsys in a research report on Thursday, May 18th. Needham & Company LLC restated a “buy” rating and set a $77.00 price objective (up previously from $76.00) on shares of Synopsys in a research report on Thursday, May 18th. Finally, Bank of America Corp reiterated a “buy” rating and issued a $87.00 target price (up previously from $80.00) on shares of Synopsys in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $75.78. In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the general counsel now directly owns 18,239 shares of the company’s stock, valued at $1,294,969. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $70.96, for a total value of $266,100.00. Following the completion of the transaction, the chief executive officer now directly owns 204,179 shares of the company’s stock, valued at $14,488,541.84. The disclosure for this sale can be found here. Insiders sold 304,246 shares of company stock valued at $21,608,505 over the last ninety days. 1.62% of the stock is currently owned by corporate insiders.

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