Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,352 shares of the semiconductor company’s stock after selling 41 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Synopsys were worth $658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $27,000. Tsfg LLC grew its position in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its stake in 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 during the last quarter. Princeton Global Asset Management LLC purchased a new position in Synopsys during the third quarter worth about $44,000. Finally, nVerses Capital LLC purchased a new stake in Synopsys in the 3rd quarter valued at about $51,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNPS. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Down 1.4 %

Shares of SNPS opened at $525.82 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market cap of $81.28 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.44 and a beta of 1.12. The business’s 50 day moving average is $514.15 and its two-hundred day moving average is $519.55.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Company 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.