Retirement Systems of Alabama Sells 136 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Retirement Systems of Alabama lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 33,514 shares of the semiconductor company’s stock after selling 136 shares during the period. Retirement Systems of Alabama’s holdings in Synopsys were worth $16,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC grew its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Brookstone Capital Management grew its position 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 in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Synopsys by 73.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the semiconductor company’s stock valued at $2,241,000 after acquiring an additional 1,600 shares during the last quarter. Apollon Wealth Management LLC raised its position in Synopsys by 5.0% during the second quarter. Apollon Wealth Management LLC now owns 4,291 shares of the semiconductor company’s stock valued at $2,553,000 after purchasing an additional 203 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Synopsys by 14.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,626 shares of the semiconductor company’s stock worth $10,489,000 after purchasing an additional 2,213 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.7 %

Shares of NASDAQ:SNPS opened at $508.28 on Monday. The company has a 50-day moving average price of $530.98 and a 200-day moving average price of $541.99. The company has a market cap of $78.08 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Finally, Wells Fargo & Company initiated coverage on shares of Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $649.00.

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.