Eventide Asset Management LLC Sells 51,749 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Eventide Asset Management LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 85.8% during the third quarter, HoldingsChannel reports. The firm owned 8,576 shares of the semiconductor company’s stock after selling 51,749 shares during the period. Eventide Asset Management LLC’s holdings in Synopsys were worth $4,343,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its position in Synopsys by 39.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock worth $914,000 after buying an additional 453 shares during the period. Cetera Investment Advisers increased its position in Synopsys by 284.9% during the first quarter. Cetera Investment Advisers now owns 27,885 shares of the semiconductor company’s stock worth $15,936,000 after acquiring an additional 20,641 shares during the period. Cetera Advisors LLC raised its stake in Synopsys by 59.8% during the 1st quarter. Cetera Advisors LLC now owns 9,586 shares of the semiconductor company’s stock valued at $5,478,000 after purchasing an additional 3,589 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Synopsys by 18.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 611 shares of the semiconductor company’s stock valued at $324,000 after purchasing an additional 95 shares during the period. Finally, Transcend Capital Advisors LLC acquired a new stake in Synopsys in the 2nd quarter worth $828,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $653.80.

Synopsys Stock Up 2.0 %

Shares of Synopsys stock opened at $558.49 on Friday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market capitalization of $85.79 billion, a P/E ratio of 57.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The company has a 50-day simple moving average of $525.83 and a 200 day simple moving average of $545.73.

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.