Exchange Traded Concepts LLC Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Exchange Traded Concepts LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,635 shares of the semiconductor company’s stock after selling 1,104 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Synopsys were worth $3,220,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Green Alpha Advisors LLC grew its stake in shares of Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC raised its position in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Synopsys by 6.1% in the 3rd quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SNPS shares. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

SNPS opened at $546.19 on Friday. The firm has a fifty day moving average price of $518.68 and a 200 day moving average price of $524.17. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market cap of $84.43 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.57 and a beta of 1.12.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by corporate insiders.

Synopsys Company 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.