Sentry Investment Management LLC Sells 25 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sentry Investment Management LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,398 shares of the semiconductor company’s stock after selling 25 shares during the quarter. Sentry Investment Management LLC’s holdings in Synopsys were worth $679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. Sierra Ocean LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC bought a new position in Synopsys in the third quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Synopsys during the 4th quarter worth $51,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $637.50.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $470.08 on Tuesday. The company has a market cap of $72.66 billion, a P/E ratio of 32.37, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $624.80. The firm’s fifty day moving average is $509.17 and its two-hundred day moving average is $517.36.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the 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 transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

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.