Strengthening Families & Communities LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 97.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193 shares of the semiconductor company's stock after selling 6,252 shares during the period. Strengthening Families & Communities LLC's holdings in Synopsys were worth $94,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Brookstone Capital Management lifted its position in Synopsys by 25.5% during the 3rd quarter. Brookstone Capital Management now owns 935 shares of the semiconductor company's stock worth $473,000 after acquiring an additional 190 shares during the period. Gateway Investment Advisers LLC lifted its stake in Synopsys by 9.8% during the 3rd quarter. Gateway Investment Advisers LLC now owns 772 shares of the semiconductor company's stock valued at $391,000 after acquiring an additional 69 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Synopsys by 170.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,739 shares of the semiconductor company's stock valued at $3,919,000 after acquiring an additional 4,873 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in shares of Synopsys by 35.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 1,830 shares of the semiconductor company's stock worth $927,000 after acquiring an additional 482 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of Synopsys by 3.2% during the third quarter. Redhawk Wealth Advisors Inc. now owns 5,797 shares of the semiconductor company's stock worth $2,936,000 after purchasing an additional 182 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on SNPS shares. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. 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 note on Friday, December 6th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective for the company. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective for the company. Finally, Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. One 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 a consensus price target of $641.82.
Get Our Latest Report on SNPS
Synopsys Stock Performance
Shares of SNPS stock traded down $2.19 on Tuesday, hitting $529.14. 431,536 shares of the stock traded hands, compared to its average volume of 1,004,382. The firm's 50-day moving average price is $512.80 and its two-hundred day moving average price is $518.34. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market capitalization of $81.79 billion, a PE ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12.
Insider Activity at Synopsys
In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.
Synopsys Company Profile
(
Free Report)
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.
See Also
Before you consider Synopsys, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Synopsys wasn't on the list.
While Synopsys currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
