Trust Point Inc. Sells 122 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Trust Point Inc. cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 555 shares of the semiconductor company’s stock after selling 122 shares during the quarter. Trust Point Inc.’s holdings in Synopsys were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Kieckhefer Group LLC acquired a new stake in shares of Synopsys during the 4th quarter valued at $27,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% during 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 in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Synopsys in the 3rd quarter valued at approximately $44,000. Finally, nVerses Capital LLC acquired a new stake in Synopsys during the 3rd quarter worth approximately $51,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SNPS shares. Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company reduced their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Up 0.9 %

Shares of NASDAQ SNPS opened at $533.18 on Friday. The firm has a market cap of $82.42 billion, a PE ratio of 36.72, a P/E/G ratio of 3.44 and a beta of 1.12. The company’s fifty day simple moving average is $514.44 and its 200 day simple moving average is $519.45. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

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.