Kestra Investment Management LLC Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Kestra Investment Management LLC trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 62.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 151 shares of the semiconductor company’s stock after selling 250 shares during the period. Kestra Investment Management LLC’s holdings in Synopsys were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Venturi Wealth Management LLC lifted its position in shares of Synopsys by 162.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,723 shares of the semiconductor company’s stock worth $836,000 after buying an additional 1,067 shares in the last quarter. D.A. Davidson & CO. increased its stake in Synopsys by 6.9% in the 4th quarter. D.A. Davidson & CO. now owns 4,404 shares of the semiconductor company’s stock worth $2,138,000 after acquiring an additional 286 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Synopsys by 2.3% during the 4th quarter. Truist Financial Corp now owns 18,766 shares of the semiconductor company’s stock worth $9,108,000 after acquiring an additional 413 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Synopsys by 7.6% during the 4th quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company’s stock valued at $36,300,000 after acquiring an additional 5,253 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of Synopsys by 21.1% in the fourth quarter. Catalyst Capital Advisors LLC now owns 1,687 shares of the semiconductor company’s stock valued at $819,000 after purchasing an additional 294 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 3.9 %

SNPS opened at $474.84 on Friday. The business has a fifty day moving average of $510.88 and a 200 day moving average of $517.44. The stock has a market cap of $73.40 billion, a P/E ratio of 32.70, a PEG ratio of 3.28 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

Wall Street Analyst Weigh In

Several research firms have commented on SNPS. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective 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. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated 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 transaction, the executive now directly owns 1,460 shares in the company, valued at $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 available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Synopsys 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.