Strategic Advocates LLC Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Advocates LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,088 shares of the semiconductor company’s stock after selling 304 shares during the period. Synopsys accounts for 0.7% of Strategic Advocates LLC’s investment portfolio, making the stock its 26th largest position. Strategic Advocates LLC’s holdings in Synopsys were worth $1,984,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacifica Partners Inc. bought a new position in shares of Synopsys in the third quarter worth $25,000. Kieckhefer Group LLC bought a new stake in Synopsys during the fourth quarter valued at approximately $27,000. Tsfg LLC grew its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% during the third 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 in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Synopsys in the 3rd quarter worth about $44,000. 85.47% of the stock is currently owned by institutional investors.

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 filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. 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 report on Friday, December 6th. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $526.36 on Friday. The firm’s 50 day simple moving average is $517.68 and its two-hundred day simple moving average is $521.54. The company has a market capitalization of $81.36 billion, a P/E ratio of 36.25, a P/E/G ratio of 3.36 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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.