Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by abrdn plc

abrdn plc lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,231 shares of the semiconductor company’s stock after selling 7,868 shares during the quarter. abrdn plc’s holdings in Synopsys were worth $33,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in Synopsys during the fourth quarter valued at $27,000. Tsfg LLC lifted its holdings in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Synopsys during the third quarter valued at $44,000. Finally, nVerses Capital LLC purchased a new position in Synopsys during the third quarter valued at $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SNPS shares. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Price Performance

Shares of SNPS opened at $528.42 on Thursday. 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 $81.68 billion, a PE ratio of 36.39, a P/E/G ratio of 3.44 and a beta of 1.12. The firm has a 50-day simple moving average of $514.82 and a two-hundred day simple moving average of $519.39.

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.