Flputnam Investment Management Co. Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Flputnam Investment Management Co. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,736 shares of the semiconductor company’s stock after selling 2,837 shares during the quarter. Flputnam Investment Management Co.’s holdings in Synopsys were worth $10,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% in the third 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. Sierra Ocean LLC bought a new position in Synopsys in the fourth quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC purchased a new position in Synopsys during the 3rd quarter worth $44,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 0.6 %

Shares of SNPS opened at $457.28 on Friday. The firm has a market cap of $70.69 billion, a PE ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $448.11 and a 12 month high of $624.80. The stock has a fifty day moving average price of $506.14 and a 200-day moving average price of $515.69.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 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 Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.

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.