Evermay Wealth Management LLC Sells 202 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Evermay Wealth Management LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,573 shares of the semiconductor company’s stock after selling 202 shares during the period. Evermay Wealth Management LLC’s holdings in Synopsys were worth $763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP bought a new position in Synopsys in the second quarter valued at $64,000. Sanctuary Advisors LLC bought a new position in shares of Synopsys during the 2nd quarter valued at about $7,001,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Synopsys by 182.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 96 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 62 shares in the last quarter. Czech National Bank lifted its position in Synopsys by 7.3% in the 3rd quarter. Czech National Bank now owns 31,211 shares of the semiconductor company’s stock worth $15,805,000 after buying an additional 2,124 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new stake in Synopsys in the 3rd quarter worth approximately $265,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 0.2 %

Shares of SNPS opened at $525.48 on Friday. The business has a fifty day moving average of $516.26 and a 200 day moving average of $520.95. The company has a market cap of $81.23 billion, a PE ratio of 36.19, a P/E/G ratio of 3.36 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Wells Fargo & Company decreased 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 report on Monday, January 13th. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Finally, Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Buying and Selling at Synopsys

In related 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 value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.