Avantax Advisory Services Inc. Sells 269 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Avantax Advisory Services Inc. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,360 shares of the semiconductor company’s stock after selling 269 shares during the period. Avantax Advisory Services Inc.’s holdings in Synopsys were worth $2,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC lifted its stake in Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after buying an additional 61,799 shares in the last quarter. Edgewood Management LLC lifted its stake in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the third quarter valued at approximately $633,469,000. Finally, Janus Henderson Group PLC lifted its position in shares of Synopsys by 7.7% in the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after purchasing an additional 81,198 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 completion of the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last ninety days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SNPS. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 4.1 %

NASDAQ SNPS opened at $446.23 on Monday. The firm’s fifty day moving average price is $495.89 and its two-hundred day moving average price is $508.30. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm has a market capitalization of $69.00 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.