Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,573 shares of the semiconductor company’s stock after selling 202 shares during the quarter. Evermay Wealth Management LLC’s holdings in Synopsys were worth $763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. purchased a new position in Synopsys in the 3rd quarter worth approximately $25,000. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter worth approximately $27,000. Tsfg LLC boosted its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew 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 valued at $35,000 after buying an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

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 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 directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $525.48 on Friday. The stock’s 50-day moving average is $516.26 and its two-hundred day moving average is $520.95. The company has a market cap of $81.23 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SNPS shares. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.