Ifrah Financial Services Inc. Sells 122 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ifrah Financial Services Inc. decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,583 shares of the semiconductor company’s stock after selling 122 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Synopsys were worth $1,739,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC boosted its position in Synopsys by 1.9% during the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC boosted its position in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its position in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in Synopsys during the third quarter valued at $633,469,000. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 approximately $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Synopsys Price Performance

SNPS opened at $522.53 on Monday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a market capitalization of $80.77 billion, a PE ratio of 35.99, a P/E/G ratio of 3.49 and a beta of 1.12. The company’s 50-day moving average is $510.78 and its 200 day moving average is $518.00.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNPS. Robert W. Baird cut their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Piper Sandler cut their price target 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. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective 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 investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.