Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,364 shares of the semiconductor company’s stock after selling 77 shares during the period. HighPoint Advisor Group LLC’s holdings in Synopsys were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the fourth quarter valued at $33,000. Sierra Ocean LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $39,000. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys during the 4th quarter worth about $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Down 2.1 %

SNPS stock opened at $428.85 on Tuesday. Synopsys, Inc. has a 52-week low of $423.08 and a 52-week high of $624.80. The business has a fifty day moving average of $483.67 and a two-hundred day moving average of $505.29. The stock has a market cap of $66.31 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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.