Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,069 shares of the semiconductor company’s stock after selling 51 shares during the quarter. IFP Advisors Inc’s holdings in Synopsys were worth $520,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in Synopsys in the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the 3rd 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 during the last quarter. Sierra Ocean LLC acquired a new stake in Synopsys in the 4th quarter valued at about $39,000. Princeton Global Asset Management LLC acquired a new stake in Synopsys in the 3rd quarter valued at about $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Synopsys in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s 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 owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

Shares of SNPS opened at $457.28 on Friday. The company has a market capitalization of $70.69 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $448.11 and a fifty-two week high of $624.80. The business’s 50-day moving average is $506.14 and its 200-day moving average is $515.69.

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.