Independent Advisor Alliance Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Independent Advisor Alliance trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,734 shares of the semiconductor company’s stock after selling 670 shares during the quarter. Independent Advisor Alliance’s holdings in Synopsys were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Andina Capital Management LLC increased its holdings in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC increased its stake in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Hilltop National Bank lifted its position in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC grew its holdings in Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SNPS. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wells Fargo & Company started coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Finally, Piper Sandler dropped their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Trading Down 1.4 %

Shares of SNPS stock opened at $553.95 on Wednesday. The stock has a market capitalization of $85.09 billion, a price-to-earnings ratio of 57.46, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock’s 50-day moving average price is $523.08 and its 200-day moving average price is $545.69.

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.