Soltis Investment Advisors LLC Sells 58 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Soltis Investment Advisors LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the semiconductor company’s stock after selling 58 shares during the period. Soltis Investment Advisors LLC’s holdings in Synopsys were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNPS. ORG Partners LLC increased its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Outlook Wealth Advisors LLC bought a new stake in shares of Synopsys in the second quarter valued at about $348,000. Blue Trust Inc. lifted its stake in Synopsys by 219.9% in the second quarter. Blue Trust Inc. now owns 2,012 shares of the semiconductor company’s stock worth $1,150,000 after acquiring an additional 1,383 shares during the period. Brookstone Capital Management lifted its stake in Synopsys by 6.6% in the second quarter. Brookstone Capital Management now owns 745 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 46 shares during the period. Finally, World Equity Group Inc. bought a new position in Synopsys during the 2nd quarter worth about $209,000. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Piper Sandler dropped their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target for the company. Finally, Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Stock Performance

Synopsys stock opened at $511.73 on Friday. The stock has a market cap of $78.61 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The stock has a 50-day moving average of $530.47 and a two-hundred day moving average of $543.35. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.