Strategic Wealth Investment Group LLC Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Wealth Investment Group LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,216 shares of the semiconductor company’s stock after selling 116 shares during the period. Strategic Wealth Investment Group LLC’s holdings in Synopsys were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares during the period. Edgewood Management LLC grew its stake in shares of Synopsys by 18.9% in the third 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. Van ECK Associates Corp raised its holdings in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter worth about $633,469,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $526.36 on Friday. 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 $81.36 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12. The business’s fifty day moving average price is $517.68 and its 200 day moving average price is $521.54.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction 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 in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Robert W. Baird dropped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Finally, Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.