GraniteShares Advisors LLC Has $906,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

GraniteShares Advisors LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,866 shares of the semiconductor company’s stock after selling 341 shares during the quarter. GraniteShares Advisors LLC’s holdings in Synopsys were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lake Street Advisors Group LLC lifted its holdings in shares of Synopsys by 14.2% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,055 shares of the semiconductor company’s stock worth $512,000 after purchasing an additional 131 shares in the last quarter. FFT Wealth Management LLC increased its position in shares of Synopsys by 3.3% during the 4th quarter. FFT Wealth Management LLC now owns 9,689 shares of the semiconductor company’s stock valued at $4,703,000 after purchasing an additional 310 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Synopsys by 167.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 94,138 shares of the semiconductor company’s stock valued at $45,691,000 after purchasing an additional 58,980 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock valued at $527,222,000 after purchasing an additional 3,533 shares during the last quarter. Finally, Brown Financial Advisors purchased a new stake in shares of Synopsys during the 4th quarter valued at $756,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Morgan Stanley decreased their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday. Finally, Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Synopsys Stock Down 2.6 %

SNPS stock opened at $457.95 on Wednesday. The firm has a market capitalization of $70.79 billion, a PE ratio of 31.54, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.00 and a twelve month high of $624.80. The stock has a 50-day simple moving average of $508.09 and a two-hundred day simple moving average of $516.89.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was 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 owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

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.