Raleigh Capital Management Inc. Sells 124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Raleigh Capital Management Inc. cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 250 shares of the semiconductor company’s stock after selling 124 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Synopsys were worth $121,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNPS. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC grew its holdings in Synopsys by 18.9% in the third 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 during the last quarter. Van ECK Associates Corp increased its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Synopsys by 120.2% during 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 last quarter. Finally, Wellington Management Group LLP boosted its position 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 worth $531,056,000 after purchasing an additional 257,526 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’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 transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $551.54 on Friday. The business’s 50-day moving average is $518.10 and its two-hundred day moving average is $524.47. The company has a market capitalization of $85.26 billion, a P/E ratio of 37.98, a P/E/G ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird dropped their target price 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. 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 research note on Friday, December 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.