Mutual of America Capital Management LLC Sells 551 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mutual of America Capital Management LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,358 shares of the semiconductor company’s stock after selling 551 shares during the period. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $9,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the fourth quarter worth $33,000. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Synopsys in the 4th quarter valued at $39,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Synopsys in the 3rd quarter valued at $44,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. 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 report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Morgan Stanley lowered their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

SNPS stock opened at $457.28 on Friday. Synopsys, Inc. has a 52 week low of $448.11 and a 52 week high of $624.80. The company has a market capitalization of $70.69 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The company’s 50-day simple moving average is $506.14 and its 200 day simple moving average is $515.60.

Insiders Place Their Bets

In related 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 transaction of $10,544,236.38. Following 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.62% of the company’s stock.

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.