Farther Finance Advisors LLC Trims Position in Synopsys, Inc. (NASDAQ:SNPS)

Farther Finance Advisors LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,741 shares of the semiconductor company’s stock after selling 94 shares during the period. Farther Finance Advisors LLC’s holdings in Synopsys were worth $845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth about $633,469,000. Edgewood Management LLC increased its stake in shares of Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Synopsys during the fourth quarter worth about $199,065,000. Proficio Capital Partners LLC increased its stake in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after acquiring an additional 385,808 shares during the period. Finally, Impax Asset Management Group plc increased its stake in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $446.23 on Friday. The company’s 50 day simple moving average is $495.89 and its 200-day simple moving average is $508.41. The firm has a market capitalization of $69.00 billion, a PE ratio of 30.73, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Piper Sandler dropped their price target 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. Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last ninety days. 0.62% of the stock is currently owned by insiders.

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.