Verdence Capital Advisors LLC Reduces Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Verdence Capital Advisors LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534 shares of the semiconductor company’s stock after selling 33 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Synopsys were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Synopsys by 115.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 929 shares of the semiconductor company’s stock worth $471,000 after acquiring an additional 498 shares in the last quarter. M&G PLC increased its position in shares of Synopsys by 9.0% in the 3rd quarter. M&G PLC now owns 3,213 shares of the semiconductor company’s stock worth $1,626,000 after purchasing an additional 266 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Synopsys by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 247,966 shares of the semiconductor company’s stock valued at $125,568,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Synopsys by 4.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 17,176 shares of the semiconductor company’s stock worth $8,698,000 after purchasing an additional 725 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Up 1.2 %

Shares of NASDAQ:SNPS opened at $450.88 on Friday. The firm’s 50 day moving average is $501.21 and its two-hundred day moving average is $512.34. The firm has a market capitalization of $69.72 billion, a P/E ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52 week low of $429.77 and a 52 week high of $624.80.

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.