Richardson Financial Services Inc. Trims Position in Synopsys, Inc. (NASDAQ:SNPS)

Richardson Financial Services Inc. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,496 shares of the semiconductor company’s stock after selling 36 shares during the quarter. Richardson Financial Services Inc.’s holdings in Synopsys were worth $728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. acquired a new stake in shares of Synopsys during the third quarter worth $25,000. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter worth about $27,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew 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 buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Synopsys during the 3rd quarter valued at about $44,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. Piper Sandler cut their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Robert W. Baird cut their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Redburn Atlantic began coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

Shares of SNPS opened at $525.48 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a market cap of $81.23 billion, a PE ratio of 36.19, a P/E/G ratio of 3.36 and a beta of 1.12. The stock’s 50-day moving average is $516.26 and its two-hundred day moving average is $520.95.

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.