Synopsys, Inc. (NASDAQ:SNPS) Position Cut by Signet Financial Management LLC

Signet Financial Management LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,363 shares of the semiconductor company’s stock after selling 45 shares during the period. Signet Financial Management LLC’s holdings in Synopsys were worth $2,118,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Synopsys in the 2nd quarter valued at about $80,000. LPL Financial LLC raised its holdings in Synopsys by 12.9% during the second quarter. LPL Financial LLC now owns 94,302 shares of the semiconductor company’s stock worth $56,115,000 after purchasing an additional 10,745 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Synopsys during the 2nd quarter valued at $638,000. HBK Sorce Advisory LLC raised its stake in shares of Synopsys by 3.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 861 shares of the semiconductor company’s stock worth $512,000 after buying an additional 29 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Synopsys by 7.8% in the second quarter. Parallel Advisors LLC now owns 6,779 shares of the semiconductor company’s stock valued at $4,034,000 after buying an additional 493 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock traded down $5.11 during midday trading on Monday, reaching $487.43. 890,831 shares of the company’s stock traded hands, compared to its average volume of 1,018,369. The company has a market cap of $75.35 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company’s 50 day simple moving average is $523.58 and its 200 day simple moving average is $528.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday. They issued a “buy” rating and a $600.00 price objective on the stock. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys 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.