Global Retirement Partners LLC Sells 29 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Global Retirement Partners LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 665 shares of the semiconductor company’s stock after selling 29 shares during the period. Global Retirement Partners LLC’s holdings in Synopsys were worth $323,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the 4th quarter valued at about $27,000. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% during 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. Sierra Ocean LLC bought a new position in shares of Synopsys in the fourth quarter worth approximately $39,000. Princeton Global Asset Management LLC bought a new position in shares of Synopsys in the third quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter worth $51,000. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $637.50.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys 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 transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $470.08 on Tuesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $624.80. The company’s fifty day moving average is $509.17 and its 200 day moving average is $517.36. The stock has a market capitalization of $72.66 billion, a PE ratio of 32.37, a P/E/G ratio of 3.23 and a beta of 1.12.

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.