QRG Capital Management Inc. Sells 2,965 Shares of Synopsys, Inc. (NASDAQ:SNPS)

QRG Capital Management Inc. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,774 shares of the semiconductor company’s stock after selling 2,965 shares during the period. QRG Capital Management Inc.’s holdings in Synopsys were worth $19,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new position in Synopsys in the 4th quarter worth approximately $33,000. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Sierra Ocean LLC bought a new position in Synopsys in the 4th quarter valued at $39,000. Finally, Princeton Global Asset Management LLC bought a new position in Synopsys in the 3rd quarter valued at $44,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Tuesday. Piper Sandler cut their price target 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. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Up 2.7 %

Shares of NASDAQ:SNPS opened at $470.46 on Thursday. The stock has a market cap of $72.72 billion, a PE ratio of 32.40, a PEG ratio of 3.23 and a beta of 1.12. The company’s fifty day moving average is $507.61 and its 200 day moving average is $516.56. Synopsys, Inc. has a 52 week low of $457.00 and a 52 week 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.