Kovack Advisors Inc. Has $548,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Kovack Advisors Inc. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,129 shares of the semiconductor company’s stock after selling 81 shares during the quarter. Kovack Advisors Inc.’s holdings in Synopsys were worth $548,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Caprock Group LLC lifted its stake in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 20 shares during the period. Edge Capital Group LLC boosted its position in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after acquiring an additional 20 shares during the period. Finally, Aptus Capital Advisors LLC grew its stake in Synopsys by 1.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $457.28 on Friday. The stock has a market capitalization of $70.69 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.23 and a beta of 1.12. The business has a 50-day moving average of $506.14 and a two-hundred day moving average of $515.69. Synopsys, Inc. has a fifty-two week low of $448.11 and a fifty-two week high of $624.80.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Tuesday. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the 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 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 SEC, which is available at the SEC website. Corporate insiders own 0.62% 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.