Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,129 shares of the semiconductor company’s stock after selling 81 shares during the period. Kovack Advisors Inc.’s holdings in Synopsys were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Parnassus Investments LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $633,469,000. Edgewood Management LLC lifted its holdings in shares of Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its position in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the period. Impax Asset Management Group plc grew its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after buying an additional 257,526 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Price Performance

Shares of SNPS opened at $457.28 on Friday. The firm’s 50 day moving average is $506.14 and its 200-day moving average is $515.69. Synopsys, Inc. has a 12-month low of $448.11 and a 12-month high of $624.80. The stock has a market capitalization of $70.69 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently 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.