Exchange Traded Concepts LLC Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Exchange Traded Concepts LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,635 shares of the semiconductor company’s stock after selling 1,104 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Synopsys were worth $3,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MBB Public Markets I LLC purchased a new stake in shares of Synopsys in the 2nd quarter worth about $6,553,000. The Manufacturers Life Insurance Company boosted its stake in Synopsys by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 175,085 shares of the semiconductor company’s stock worth $104,186,000 after acquiring an additional 3,539 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Synopsys in the second quarter worth about $7,423,000. Peloton Wealth Strategists increased its stake in shares of Synopsys by 17.1% during the second quarter. Peloton Wealth Strategists now owns 897 shares of the semiconductor company’s stock valued at $534,000 after purchasing an additional 131 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Synopsys by 16.9% during the second quarter. Creative Planning now owns 18,708 shares of the semiconductor company’s stock valued at $11,132,000 after purchasing an additional 2,703 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other Synopsys 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Finally, Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 1.0 %

Synopsys stock opened at $546.19 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market cap of $84.43 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.57 and a beta of 1.12. The business has a 50-day simple moving average of $518.68 and a two-hundred day simple moving average of $524.17.

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.