Snowden Capital Advisors LLC Sells 69 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Snowden Capital Advisors LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213 shares of the semiconductor company’s stock after selling 69 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Synopsys were worth $589,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 33 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

SNPS opened at $515.61 on Wednesday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The firm’s fifty day moving average is $447.85 and its two-hundred day moving average is $489.13. The firm has a market cap of $79.72 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction 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 directly owns 116,671 shares in the company, valued at $51,850,925.82. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Bank of America reduced their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $614.86.

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.