Custom Index Systems LLC Sells 231 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Custom Index Systems LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,834 shares of the semiconductor company’s stock after selling 231 shares during the quarter. Custom Index Systems LLC’s holdings in Synopsys were worth $890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC bought a new position in Synopsys during the third quarter worth $633,469,000. Edgewood Management LLC grew its holdings in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp raised its position in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on 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 sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNPS. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Robert W. Baird lowered their price objective 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. Wells Fargo & Company dropped their target price 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. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Finally, Loop Capital initiated coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Trading Down 0.2 %

Synopsys stock opened at $525.48 on Friday. The firm’s fifty day moving average price is $517.05 and its two-hundred day moving average price is $521.58. The firm has a market capitalization of $81.23 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth 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.