McGlone Suttner Wealth Management Inc. Sells 455 Shares of Synopsys, Inc. (NASDAQ:SNPS)

McGlone Suttner Wealth Management Inc. cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 796 shares of the semiconductor company’s stock after selling 455 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Synopsys were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Davidson Capital Management Inc. lifted its holdings in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares in the last quarter. Peloton Wealth Strategists lifted its stake in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the last quarter. Parnassus Investments LLC purchased a new position in shares of Synopsys during the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. increased its holdings in shares of Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after purchasing an additional 1,496 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Trading Up 1.3 %

Shares of Synopsys stock opened at $551.54 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock’s fifty day moving average price is $518.10 and its 200-day moving average price is $524.47. The firm has a market cap of $85.26 billion, a P/E ratio of 37.98, a P/E/G ratio of 3.57 and a beta of 1.12.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.