Apollon Wealth Management LLC Has $1.94 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Apollon Wealth Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,994 shares of the semiconductor company's stock after selling 511 shares during the period. Apollon Wealth Management LLC's holdings in Synopsys were worth $1,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at $27,000. Tsfg LLC raised its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. lifted 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 valued at $35,000 after acquiring an additional 20 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Synopsys during the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research report on Friday, December 6th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $4.78 during midday trading on Tuesday, hitting $526.55. The company's stock had a trading volume of 159,363 shares, compared to its average volume of 994,172. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a market capitalization of $81.39 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 3.49 and a beta of 1.12. The stock's 50 day simple moving average is $512.80 and its 200 day simple moving average is $518.34.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company's stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company's stock.

About Synopsys

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.