Norden Group LLC Sells 31 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Norden Group LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,335 shares of the semiconductor company’s stock after selling 31 shares during the period. Norden Group LLC’s holdings in Synopsys were worth $648,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in Synopsys by 3.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,148 shares of the semiconductor company’s stock worth $1,046,000 after purchasing an additional 74 shares during the last quarter. Middleton & Co. Inc. MA raised its position in Synopsys by 11.7% in the 4th quarter. Middleton & Co. Inc. MA now owns 19,437 shares of the semiconductor company’s stock worth $9,434,000 after purchasing an additional 2,042 shares during the last quarter. Metis Global Partners LLC raised its position in Synopsys by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 8,044 shares of the semiconductor company’s stock worth $3,904,000 after purchasing an additional 299 shares during the last quarter. Fisher Asset Management LLC raised its position in Synopsys by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 12,643 shares of the semiconductor company’s stock worth $6,137,000 after purchasing an additional 122 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Synopsys in the 4th quarter worth approximately $372,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

Shares of SNPS stock opened at $443.26 on Tuesday. The firm’s 50-day moving average is $505.15 and its 200-day moving average is $514.75. The stock has a market cap of $68.54 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $442.29 and a 52-week high of $624.80.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by insiders.

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.