Gateway Investment Advisers LLC Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Gateway Investment Advisers LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 44.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 429 shares of the semiconductor company’s stock after selling 343 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Synopsys were worth $208,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. purchased a new stake in Synopsys during the third quarter valued at about $25,000. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter valued at about $27,000. Tsfg LLC raised its holdings in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in Synopsys in the second quarter worth approximately $51,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 2.1 %

Shares of Synopsys stock opened at $526.70 on Monday. The company has a market cap of $81.42 billion, a PE ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12. The business has a 50 day moving average of $519.43 and a 200 day moving average of $525.54. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective 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. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Piper Sandler reduced their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Redburn Atlantic initiated coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred 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 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 accessible through the SEC website. Insiders own 0.66% 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.