Inspire Investing LLC Has $6.86 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Inspire Investing LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,140 shares of the semiconductor company’s stock after selling 565 shares during the quarter. Synopsys makes up 0.8% of Inspire Investing LLC’s holdings, making the stock its 16th largest holding. Inspire Investing LLC’s holdings in Synopsys were worth $6,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SNPS. Pacifica Partners Inc. bought a new stake in Synopsys in the 3rd quarter valued at $25,000. Kieckhefer Group LLC bought a new stake in shares of Synopsys in the 4th quarter worth about $27,000. Tsfg LLC grew its holdings in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter worth about $44,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $544.70 on Thursday. The company has a market capitalization of $84.20 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 3.47 and a beta of 1.12. The firm’s 50 day simple moving average is $518.10 and its 200 day simple moving average is $524.47. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Piper Sandler decreased their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

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.