Simon Quick Advisors LLC Sells 420 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Simon Quick Advisors LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 39.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 637 shares of the semiconductor company’s stock after selling 420 shares during the quarter. Simon Quick Advisors LLC’s holdings in Synopsys were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNPS. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after acquiring an additional 22 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after acquiring an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC boosted its position in Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Synopsys by 6.1% in the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNPS. Piper Sandler dropped their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on 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 directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $551.54 on Friday. The firm has a market cap of $85.26 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 3.47 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 firm’s 50-day simple moving average is $518.10 and its 200 day simple moving average is $524.47.

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.