NewEdge Wealth LLC Sells 152 Shares of Synopsys, Inc. (NASDAQ:SNPS)

NewEdge Wealth LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,346 shares of the semiconductor company’s stock after selling 152 shares during the quarter. NewEdge Wealth LLC’s holdings in Synopsys were worth $3,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Peloton Wealth Strategists lifted its position in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares in the last quarter. Swiss National Bank lifted its position in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Harvest Portfolios Group Inc. lifted its position in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after buying an additional 143,284 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SNPS shares. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday. Piper Sandler decreased their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday. Finally, Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Up 0.6 %

Synopsys stock opened at $457.28 on Friday. The firm has a 50 day simple moving average of $506.14 and a 200 day simple moving average of $515.69. The firm has a market capitalization of $70.69 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $448.11 and a 1-year high of $624.80.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on 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 in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

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.