Checchi Capital Advisers LLC Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Checchi Capital Advisers LLC trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,922 shares of the semiconductor company’s stock after selling 27 shares during the period. Checchi Capital Advisers LLC’s holdings in Synopsys were worth $933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Impact Investors Inc bought a new stake in Synopsys in the fourth quarter worth $395,000. Lake Street Advisors Group LLC raised its stake in shares of Synopsys by 14.2% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,055 shares of the semiconductor company’s stock valued at $512,000 after acquiring an additional 131 shares during the period. FFT Wealth Management LLC raised its stake in shares of Synopsys by 3.3% in the fourth quarter. FFT Wealth Management LLC now owns 9,689 shares of the semiconductor company’s stock valued at $4,703,000 after acquiring an additional 310 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Synopsys by 167.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 94,138 shares of the semiconductor company’s stock worth $45,691,000 after acquiring an additional 58,980 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock worth $527,222,000 after purchasing an additional 3,533 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company cut their target price 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. Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Synopsys Trading Up 2.7 %

NASDAQ:SNPS opened at $470.46 on Thursday. The stock has a fifty day simple moving average of $507.61 and a 200-day simple moving average of $516.56. The company has a market cap of $72.72 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.00 and a twelve month high of $624.80.

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.