Orion Portfolio Solutions LLC Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

Orion Portfolio Solutions LLC cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,217 shares of the semiconductor company’s stock after selling 2,055 shares during the period. Orion Portfolio Solutions LLC’s holdings in Synopsys were worth $11,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new position in shares of Synopsys in the fourth quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter worth $51,000. Finally, Versant Capital Management Inc grew its stake in Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 59 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 1.9 %

Shares of SNPS opened at $437.95 on Friday. The business has a fifty day moving average of $485.62 and a 200 day moving average of $505.27. The company has a market cap of $67.72 billion, a PE ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred 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 transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.