Signaturefd LLC Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Signaturefd LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 3,618 shares of the semiconductor company’s stock after selling 174 shares during the period. Signaturefd LLC’s holdings in Synopsys were worth $1,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at $633,469,000. Edgewood Management LLC increased its position in shares of Synopsys by 18.9% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Synopsys in the 4th quarter valued at about $199,065,000. Proficio Capital Partners LLC boosted its position in shares of Synopsys by 71,578.5% in the 4th quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock valued at $187,517,000 after purchasing an additional 385,808 shares during the period. Finally, Wellington Management Group LLP grew its stake in Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $453.51 on Tuesday. The business has a 50 day moving average price of $494.94 and a 200 day moving average price of $507.85. The company has a market capitalization of $70.12 billion, a P/E ratio of 31.23, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was 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. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock valued at $22,794,835 over the last quarter. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNPS. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

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.