Checchi Capital Advisers LLC Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Checchi Capital Advisers LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,922 shares of the semiconductor company’s stock after selling 27 shares during the period. Checchi Capital Advisers LLC’s holdings in Synopsys were worth $933,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Peloton Wealth Strategists boosted its position in Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares in the last quarter. Swiss National Bank boosted its position in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter valued at approximately $633,469,000. Harvest Portfolios Group Inc. boosted its position in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after acquiring an additional 143,284 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $470.46 on Thursday. The stock has a market capitalization of $72.72 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.23 and a beta of 1.12. The company has a fifty day moving average of $507.61 and a 200 day moving average of $516.56. Synopsys, Inc. has a fifty-two week low of $457.00 and a fifty-two week high of $624.80.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Wells Fargo & Company dropped their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

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.