United Asset Strategies Inc. Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

United Asset Strategies Inc. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 57.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,039 shares of the semiconductor company's stock after selling 2,759 shares during the quarter. United Asset Strategies Inc.'s holdings in Synopsys were worth $990,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Synopsys by 16.9% in the second quarter. Creative Planning now owns 18,708 shares of the semiconductor company's stock valued at $11,132,000 after buying an additional 2,703 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Synopsys by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,432 shares of the semiconductor company's stock worth $6,803,000 after acquiring an additional 510 shares during the last quarter. Seaport Global Advisors LLC bought a new stake in Synopsys in the 2nd quarter valued at about $752,000. Quarry LP purchased a new stake in Synopsys during the second quarter valued at about $64,000. Finally, Ecofi Investissements SA bought a new position in Synopsys during the second quarter worth about $6,400,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

SNPS traded up $15.39 on Tuesday, reaching $526.12. 1,606,330 shares of the stock were exchanged, compared to its average volume of 1,154,696. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $81.33 billion, a PE ratio of 36.23, a PEG ratio of 3.57 and a beta of 1.12. The company's 50-day moving average price is $518.41 and its 200 day moving average price is $522.22.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company's stock in a transaction that occurred on 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 sale, the executive now directly owns 1,460 shares of the company's stock, valued at $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 is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SNPS shares. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price target for the company. Rosenblatt Securities restated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 target price for the company. Finally, Piper Sandler decreased their price target on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $641.82.

Synopsys Company 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.