Bangor Savings Bank Sells 198 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bangor Savings Bank cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,303 shares of the semiconductor company’s stock after selling 198 shares during the quarter. Bangor Savings Bank’s holdings in Synopsys were worth $632,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pacifica Partners Inc. bought a new stake in Synopsys during the 3rd quarter valued at approximately $25,000. Tsfg LLC raised its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new position in shares of Synopsys in the second quarter worth $30,000. Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Synopsys during the third quarter valued at $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Piper Sandler dropped their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Wells Fargo & Company started coverage on shares of Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $649.00.

Synopsys Trading Up 1.5 %

Shares of SNPS opened at $501.06 on Tuesday. The company’s fifty day simple moving average is $525.85 and its 200-day simple moving average is $531.85. The company has a market cap of $77.45 billion, a P/E ratio of 34.51, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys Profile

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.