SG Americas Securities LLC Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

SG Americas Securities LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 97.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,519 shares of the semiconductor company’s stock after selling 71,587 shares during the period. SG Americas Securities LLC’s holdings in Synopsys were worth $737,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Davidson Capital Management Inc. raised its holdings in Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Swiss National Bank raised its holdings in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. increased its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company cut their price target 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. Finally, Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS opened at $512.71 on Thursday. The company has a market capitalization of $79.25 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 3.57 and a beta of 1.12. The company’s 50 day simple moving average is $518.25 and its 200 day simple moving average is $521.60. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction on 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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

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.