GraniteShares Advisors LLC Sells 341 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GraniteShares Advisors LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,866 shares of the semiconductor company’s stock after selling 341 shares during the quarter. GraniteShares Advisors LLC’s holdings in Synopsys were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in Synopsys in the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Sierra Ocean LLC bought a new stake in Synopsys in the 4th quarter worth approximately $39,000. Princeton Global Asset Management LLC bought a new stake in Synopsys in the 3rd quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Synopsys in the 4th quarter worth approximately $51,000. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird lowered 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. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS opened at $457.95 on Wednesday. Synopsys, Inc. has a 52-week low of $457.00 and a 52-week high of $624.80. The stock has a market capitalization of $70.79 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. The stock’s 50 day moving average price is $508.09 and its 200-day moving average price is $516.89.

Synopsys 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.