L & S Advisors Inc Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

L & S Advisors Inc cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,915 shares of the semiconductor company’s stock after selling 245 shares during the quarter. L & S Advisors Inc’s holdings in Synopsys were worth $1,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter worth $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNPS. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Stock Down 1.9 %

NASDAQ SNPS opened at $437.95 on Friday. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The company has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock’s 50-day moving average price is $485.62 and its 200-day moving average price is $505.55.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by corporate insiders.

Synopsys Company 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.