HMS Capital Management LLC Sells 233 Shares of Synopsys, Inc. (NASDAQ:SNPS)

HMS Capital Management LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,907 shares of the semiconductor company’s stock after selling 233 shares during the quarter. HMS Capital Management LLC’s holdings in Synopsys were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new stake in shares of Synopsys in the fourth quarter worth about $27,000. Tsfg LLC grew its position in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% in the third 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 last quarter. Princeton Global Asset Management LLC bought a new position in shares of Synopsys in the third quarter worth approximately $44,000. Finally, nVerses Capital LLC purchased a new stake in Synopsys in the third quarter worth $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SNPS. Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective for the company. Piper Sandler reduced their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $641.82.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $509.71 on Thursday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $78.79 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. The stock’s 50-day simple moving average is $511.98 and its 200-day simple moving average is $518.22.

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.