Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 34.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,911 shares of the semiconductor company's stock after selling 1,563 shares during the period. Anchor Investment Management LLC's holdings in Synopsys were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. ORG Partners LLC grew its holdings in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new position in shares of Synopsys in the third quarter valued at about $25,000. Tsfg LLC increased its holdings in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys in the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 0.7 %

Shares of Synopsys stock traded down $3.45 on Friday, hitting $508.28. 1,215,098 shares of the company were exchanged, compared to its average volume of 1,077,946. The company has a 50-day moving average price of $530.80 and a 200 day moving average price of $543.13. The stock has a market capitalization of $78.08 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNPS. Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Wells Fargo & Company initiated coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an "equal weight" rating and a $570.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Finally, Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.00.

Synopsys 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.