Signaturefd LLC Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Signaturefd LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,618 shares of the semiconductor company’s stock after selling 174 shares during the period. Signaturefd LLC’s holdings in Synopsys were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter valued at $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys during the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Synopsys during the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc raised its stake in Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 1.6 %

Shares of SNPS opened at $453.51 on Tuesday. The company has a market cap of $70.12 billion, a P/E ratio of 31.23, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $425.73 and a fifty-two week high of $624.80. The firm’s 50 day moving average price is $494.94 and its 200 day moving average price is $507.85.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler decreased their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Company 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.