International Assets Investment Management LLC Sells 239,042 Shares of Synopsys, Inc. (NASDAQ:SNPS)

International Assets Investment Management LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 99.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480 shares of the semiconductor company's stock after selling 239,042 shares during the quarter. International Assets Investment Management LLC's holdings in Synopsys were worth $232,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter valued at about $25,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 24 shares during the period. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% in the third 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 in the last quarter. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the third quarter valued at approximately $44,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Synopsys during the second quarter valued at approximately $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Needham & Company LLC reissued a "buy" rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective on the stock. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday. They set a "buy" rating and a $600.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $2.93 during trading on Tuesday, hitting $490.36. The company had a trading volume of 833,239 shares, compared to its average volume of 995,292. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The business's 50-day moving average is $522.21 and its 200 day moving average is $527.43. The company has a market cap of $75.80 billion, a P/E ratio of 33.77, a PEG ratio of 3.41 and a beta of 1.12.

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.