Strengthening Families & Communities LLC Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Strengthening Families & Communities LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 97.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 193 shares of the semiconductor company’s stock after selling 6,252 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Synopsys were worth $94,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter worth about $633,469,000. Edgewood Management LLC raised its stake in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp lifted its holdings in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Trading Up 1.0 %

Shares of NASDAQ:SNPS opened at $531.33 on Tuesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company has a market capitalization of $82.13 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.49 and a beta of 1.12. The firm’s 50-day moving average is $513.49 and its 200 day moving average is $518.39.

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.