Oppenheimer Asset Management Inc. Sells 515 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Oppenheimer Asset Management Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,902 shares of the semiconductor company’s stock after selling 515 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Synopsys were worth $11,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in shares of Synopsys in the third quarter worth about $633,469,000. Edgewood Management LLC grew its position in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Impax Asset Management Group plc lifted its position in Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated 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 directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Down 3.3 %

Shares of SNPS stock opened at $454.71 on Friday. The stock has a market cap of $70.29 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 3.23 and a beta of 1.12. The business’s fifty day moving average is $506.84 and its 200 day moving average is $516.13. Synopsys, Inc. has a twelve month low of $454.05 and a twelve month high of $624.80.

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.