HighTower Advisors LLC Sells 8,674 Shares of Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 48.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,304 shares of the semiconductor company's stock after selling 8,674 shares during the quarter. HighTower Advisors LLC's holdings in Synopsys were worth $4,840,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in shares of Synopsys during the third quarter worth $567,000. Benjamin Edwards Inc. boosted its position in Synopsys by 458.9% during the third quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company's stock valued at $303,000 after acquiring an additional 491 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Synopsys during the 3rd quarter worth about $31,766,000. Edgestream Partners L.P. bought a new position in shares of Synopsys in the 3rd quarter worth about $4,417,000. Finally, Circle Wealth Management LLC lifted its stake in shares of Synopsys by 55.2% in the 3rd quarter. Circle Wealth Management LLC now owns 4,137 shares of the semiconductor company's stock valued at $2,095,000 after purchasing an additional 1,471 shares during the period. Institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SNPS shares. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 target price on the stock. Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $649.00.

Synopsys Stock Up 1.3 %

SNPS stock traded up $6.74 during mid-day trading on Wednesday, reaching $512.06. 1,005,066 shares of the company traded hands, compared to its average volume of 1,078,830. The firm's 50 day moving average price is $530.17 and its 200 day moving average price is $543.57. The stock has a market cap of $78.66 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 3.25 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

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.