Hartford Investment Management Co. Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Hartford Investment Management Co. lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,499 shares of the semiconductor company’s stock after selling 144 shares during the period. Hartford Investment Management Co.’s holdings in Synopsys were worth $4,610,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SNPS. Hazlett Burt & Watson Inc. lifted its position in shares of 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 buying an additional 20 shares in the last quarter. Caprock Group LLC grew its position in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC increased its stake in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Synopsys by 6.1% in the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNPS shares. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 3.7 %

Shares of SNPS opened at $509.71 on Thursday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market capitalization 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 firm has a 50-day moving average price of $511.98 and a 200 day moving average price of $518.22.

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.