HighPoint Advisor Group LLC Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

HighPoint Advisor Group LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,364 shares of the semiconductor company’s stock after selling 77 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Synopsys were worth $1,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after purchasing an additional 143,284 shares in the last quarter. James Hambro & Partners LLP lifted its position in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after purchasing an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Synopsys by 53.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock worth $13,304,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after purchasing an additional 10,028 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. One equities 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, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

SNPS opened at $428.85 on Tuesday. Synopsys, Inc. has a 12 month low of $423.08 and a 12 month high of $624.80. The stock has a market capitalization of $66.31 billion, a P/E ratio of 29.54, a P/E/G ratio of 3.23 and a beta of 1.16. The business has a 50 day simple moving average of $483.67 and a 200-day simple moving average of $505.29.

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.