Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 83.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 787 shares of the semiconductor company’s stock after selling 3,888 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Synopsys were worth $399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Synopsys by 14.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,626 shares of the semiconductor company’s stock worth $10,489,000 after buying an additional 2,213 shares in the last quarter. GYL Financial Synergies LLC increased its holdings in shares of Synopsys by 5.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 2,773 shares of the semiconductor company’s stock valued at $1,650,000 after acquiring an additional 132 shares during the last quarter. &PARTNERS grew its stake in shares of Synopsys by 62.0% in the second quarter. &PARTNERS now owns 1,238 shares of the semiconductor company’s stock worth $737,000 after acquiring an additional 474 shares during the last quarter. My Legacy Advisors LLC acquired a new position in Synopsys in the 2nd quarter valued at approximately $425,000. Finally, Catalina Capital Group LLC raised its position in Synopsys by 5.9% in the second quarter. Catalina Capital Group LLC now owns 749 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 42 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

Synopsys Stock Performance

Shares of Synopsys stock traded up $2.55 during midday trading on Thursday, reaching $496.98. 575,448 shares of the company’s stock traded hands, compared to its average volume of 1,078,341. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company has a market cap of $76.34 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. The stock has a 50 day moving average of $530.72 and a 200-day moving average of $541.02.

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.