Wolff Wiese Magana LLC Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

Wolff Wiese Magana LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 54.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 506 shares of the semiconductor company’s stock after selling 601 shares during the period. Wolff Wiese Magana LLC’s holdings in Synopsys were worth $246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter worth about $25,000. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter worth approximately $27,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew 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 acquiring an additional 20 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in shares of Synopsys in the 2nd quarter worth $51,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 2.4 %

Shares of SNPS stock opened at $501.97 on Wednesday. The stock has a fifty day simple moving average of $522.21 and a two-hundred day simple moving average of $527.43. The stock has a market capitalization of $77.59 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday. They issued a “buy” rating and a $600.00 price objective for the company. Finally, 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 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.