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

Avantax Advisory Services Inc. decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,360 shares of the semiconductor company’s stock after selling 269 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Synopsys were worth $2,116,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SNPS. Parnassus Investments LLC acquired a new stake in Synopsys in the 3rd quarter valued at $633,469,000. Edgewood Management LLC boosted its stake in Synopsys by 18.9% in the 3rd 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. Raymond James Financial Inc. acquired a new stake in Synopsys in the 4th quarter valued at $199,065,000. Proficio Capital Partners LLC boosted its stake in Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after buying an additional 385,808 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after buying an additional 257,526 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SNPS shares. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Stock Up 4.1 %

SNPS stock opened at $446.23 on Monday. The company has a market cap of $69.00 billion, a P/E ratio of 30.73, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a twelve month low of $425.73 and a twelve month high of $624.80. The business has a fifty day moving average of $495.89 and a 200-day moving average of $508.30.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by 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.