Orion Portfolio Solutions LLC Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Orion Portfolio Solutions LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,217 shares of the semiconductor company’s stock after selling 2,055 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Synopsys were worth $11,754,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Caprock Group LLC grew its stake in Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC grew its position in shares of 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 buying an additional 20 shares in the last quarter. Barden Capital Management Inc. increased its stake in shares of Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 20 shares during the period. Finally, Resurgent Financial Advisors LLC increased its stake in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after buying an additional 22 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $437.95 on Friday. The business’s 50-day moving average is $485.62 and its 200 day moving average is $505.27. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a P/E/G ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SNPS shares. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Robert W. Baird dropped their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

About Synopsys

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.