Mediolanum International Funds Ltd Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mediolanum International Funds Ltd reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,135 shares of the semiconductor company’s stock after selling 3,774 shares during the period. Mediolanum International Funds Ltd’s holdings in Synopsys were worth $10,262,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pacifica Partners Inc. purchased a new stake in shares of Synopsys during the third quarter worth $25,000. Kieckhefer Group LLC purchased a new stake in Synopsys during the 4th quarter worth about $27,000. Tsfg LLC raised its position in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Synopsys during the third quarter worth about $44,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNPS. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Piper Sandler lowered their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. One 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Down 0.2 %

Shares of SNPS stock opened at $525.48 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock’s 50-day moving average price is $517.05 and its 200 day moving average price is $521.58. The stock has a market capitalization of $81.23 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.12.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction 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 directly owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.