Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ieq Capital LLC

Ieq Capital LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,933 shares of the semiconductor company's stock after selling 10,223 shares during the period. Ieq Capital LLC's holdings in Synopsys were worth $9,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in SNPS. Foundations Investment Advisors LLC lifted its position in shares of Synopsys by 2.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,368 shares of the semiconductor company's stock worth $693,000 after purchasing an additional 33 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Synopsys by 14.5% during the third quarter. Sequoia Financial Advisors LLC now owns 6,016 shares of the semiconductor company's stock worth $3,046,000 after buying an additional 760 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in Synopsys by 31.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,032 shares of the semiconductor company's stock worth $523,000 after buying an additional 245 shares during the period. Greenleaf Trust boosted its position in Synopsys by 19.2% during the 3rd quarter. Greenleaf Trust now owns 6,343 shares of the semiconductor company's stock valued at $3,212,000 after acquiring an additional 1,023 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Synopsys by 57,616.1% in the 3rd quarter. International Assets Investment Management LLC now owns 239,522 shares of the semiconductor company's stock valued at $121,292,000 after acquiring an additional 239,107 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNPS. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. 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 report on Friday, December 6th. Rosenblatt Securities reissued a "buy" rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Stock Down 3.9 %

Shares of SNPS traded down $19.13 during trading hours on Friday, reaching $474.84. 1,370,372 shares of the company traded hands, compared to its average volume of 1,066,749. The business has a fifty day moving average price of $510.88 and a 200-day moving average price of $517.44. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market capitalization of $73.40 billion, a P/E ratio of 32.70, a P/E/G ratio of 3.28 and a beta of 1.12.

Insiders Place Their Bets

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

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.