Van ECK Associates Corp Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Van ECK Associates Corp reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,549,279 shares of the semiconductor company's stock after selling 55,722 shares during the quarter. Synopsys makes up about 1.0% of Van ECK Associates Corp's holdings, making the stock its 23rd biggest holding. Van ECK Associates Corp owned about 1.00% of Synopsys worth $751,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SNPS. Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares during the period. Aptus Capital Advisors LLC lifted its stake in Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company's stock worth $733,000 after acquiring an additional 22 shares during the period. Resurgent Financial Advisors LLC raised its holdings in Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock worth $410,000 after purchasing an additional 22 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Synopsys by 6.1% during the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company's stock valued at $202,000 after acquiring an additional 23 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 1.1 %

NASDAQ SNPS traded down $5.76 during trading hours on Friday, reaching $522.53. 943,680 shares of the company's stock were exchanged, compared to its average volume of 1,012,953. The firm has a fifty day moving average of $510.78 and a 200-day moving average of $518.00. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market cap of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler cut their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research note on Friday, December 6th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Finally, Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price 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.