Kestra Investment Management LLC Sells 250 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Kestra Investment Management LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 62.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151 shares of the semiconductor company’s stock after selling 250 shares during the period. Kestra Investment Management LLC’s holdings in Synopsys were worth $73,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the 3rd 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 during the last quarter. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter worth $39,000. Princeton Global Asset Management LLC purchased a new position in shares of Synopsys in the third quarter worth $44,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Synopsys during the fourth quarter valued at $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $474.84 on Friday. The business’s fifty day moving average is $510.88 and its 200 day moving average is $517.44. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market capitalization of $73.40 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNPS. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. 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 target price for the company. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Finally, Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $641.82.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.