Mutual of America Capital Management LLC Sells 551 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mutual of America Capital Management LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,358 shares of the semiconductor company’s stock after selling 551 shares during the period. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $9,396,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in Synopsys in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the fourth quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. raised its holdings in 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 last quarter. Sierra Ocean LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 0.6 %

Shares of SNPS stock opened at $457.28 on Friday. The firm has a 50 day moving average of $506.14 and a 200-day moving average of $515.60. The company has a market cap of $70.69 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $448.11 and a 52 week high of $624.80.

Insider Buying and Selling

In related 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 transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday. Finally, Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

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.