National Wealth Management Group LLC Sells 885 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Wealth Management Group LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 53.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 762 shares of the semiconductor company’s stock after selling 885 shares during the period. National Wealth Management Group LLC’s holdings in Synopsys were worth $386,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Edgewood Management LLC raised its stake in shares of 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 purchasing an additional 487,025 shares in the last quarter. Swedbank AB raised its position in Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares in the last quarter. Van ECK Associates Corp lifted its stake in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys in the 3rd quarter valued at about $633,469,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Synopsys by 4.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNPS. Piper Sandler cut their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.80.

Synopsys Trading Down 1.1 %

NASDAQ SNPS opened at $547.74 on Thursday. The company has a market cap of $84.14 billion, a price-to-earnings ratio of 56.82, a PEG ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company has a 50 day moving average of $524.12 and a 200-day moving average of $545.71.

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.