Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 610 shares of the semiconductor company’s stock after selling 57 shares during the period. Gibraltar Capital Management Inc.’s holdings in Synopsys were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during 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 worth about $39,000. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $51,000. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS stock opened at $457.95 on Wednesday. The firm has a 50 day simple moving average of $508.09 and a 200 day simple moving average of $516.89. Synopsys, Inc. has a 52 week low of $457.00 and a 52 week high of $624.80. The stock has a market cap of $70.79 billion, a P/E ratio of 31.54, a P/E/G ratio of 3.23 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNPS shares. Robert W. Baird lowered 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. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

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.