Gateway Investment Advisers LLC Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Gateway Investment Advisers LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 44.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429 shares of the semiconductor company’s stock after selling 343 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Synopsys were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Bridges Investment Management Inc. bought a new stake in shares of Synopsys in the second quarter worth approximately $437,000. AE Wealth Management LLC grew its position in Synopsys by 4.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock worth $2,189,000 after purchasing an additional 169 shares during the period. Pacer Advisors Inc. raised its stake in Synopsys by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock valued at $12,267,000 after buying an additional 338 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Synopsys by 37.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,061 shares of the semiconductor company’s stock valued at $631,000 after buying an additional 291 shares during the period. Finally, Kowal Investment Group LLC boosted its stake in shares of Synopsys by 15.8% in the 2nd quarter. Kowal Investment Group LLC now owns 673 shares of the semiconductor company’s stock worth $400,000 after buying an additional 92 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS opened at $526.70 on Monday. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12. The firm’s fifty day moving average is $519.43 and its 200 day moving average is $525.54. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction 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. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on SNPS shares. Robert W. Baird reduced their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Piper Sandler dropped their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $641.82.

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.