Howard Bailey Securities LLC Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Howard Bailey Securities LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 413 shares of the semiconductor company’s stock after selling 30 shares during the period. Howard Bailey Securities LLC’s holdings in Synopsys were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth $27,000. Tsfg LLC grew its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Princeton Global Asset Management LLC purchased a new position in Synopsys in the 3rd quarter worth approximately $44,000. Finally, nVerses Capital LLC purchased a new position in Synopsys in the 3rd quarter worth approximately $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Wells Fargo & Company lowered their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Piper Sandler lowered their price target on 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

NASDAQ SNPS opened at $509.71 on Thursday. The company has a market cap of $78.79 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.49 and a beta of 1.12. The business’s 50 day moving average price is $511.98 and its 200-day moving average price is $518.22. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 transaction of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys 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.