Ieq Capital LLC Sells 10,223 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ieq Capital LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,933 shares of the semiconductor company’s stock after selling 10,223 shares during the quarter. Ieq Capital LLC’s holdings in Synopsys were worth $9,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davidson Capital Management Inc. raised its holdings in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares during the last quarter. Swiss National Bank raised its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the last quarter. Parnassus Investments LLC acquired a new position in Synopsys during the third quarter worth $633,469,000. Finally, Harvest Portfolios Group Inc. raised its holdings in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $493.97 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a 50-day simple moving average of $511.23 and a 200 day simple moving average of $517.61. The company has a market capitalization of $76.36 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Robert W. Baird lowered their target price 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Buying and Selling

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 transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Company 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.