Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Decreased by Angeles Wealth Management LLC

Angeles Wealth Management LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 51.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 416 shares of the semiconductor company’s stock after selling 444 shares during the period. Angeles Wealth Management LLC’s holdings in Synopsys were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. State Street Corp grew its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 buying an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at about $633,469,000. Institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Finally, Robert W. Baird reduced their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Trading Up 1.0 %

Shares of NASDAQ:SNPS opened at $531.33 on Tuesday. The company has a 50 day moving average of $513.49 and a 200-day moving average of $518.39. The firm has a market cap of $82.13 billion, a P/E ratio of 36.59, a P/E/G ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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.