Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 34.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,911 shares of the semiconductor company’s stock after selling 1,563 shares during the period. Anchor Investment Management LLC’s holdings in Synopsys were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cascade Financial Partners LLC lifted its holdings in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the 3rd 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 last quarter. Green Alpha Advisors LLC increased its position in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares during the period. Aptus Capital Advisors LLC raised its position in shares of Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target on the stock. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Finally, Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.00.

Synopsys Price Performance

NASDAQ SNPS opened at $511.73 on Friday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The business has a 50 day simple moving average of $530.47 and a 200 day simple moving average of $543.35. The stock has a market capitalization of $78.61 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.43 and a beta of 1.08.

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.