North Point Portfolio Managers Corp OH Sells 359 Shares of Synopsys, Inc. (NASDAQ:SNPS)

North Point Portfolio Managers Corp OH reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,904 shares of the semiconductor company’s stock after selling 359 shares during the quarter. North Point Portfolio Managers Corp OH’s holdings in Synopsys were worth $5,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC grew its stake in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares in the last quarter. Edgewood Management LLC raised its position in shares of Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a report 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 eleven have issued a buy rating to the company’s stock. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

SNPS opened at $546.19 on Monday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company’s 50 day moving average price is $518.68 and its two-hundred day moving average price is $522.91. The firm has a market capitalization of $84.43 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.57 and a beta of 1.12.

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.