Forza Wealth Management LLC Sells 80 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Forza Wealth Management LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 780 shares of the semiconductor company’s stock after selling 80 shares during the period. Forza Wealth Management LLC’s holdings in Synopsys were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after acquiring an additional 61,799 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in Synopsys in the 3rd quarter worth about $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock traded down $4.38 during trading hours on Monday, reaching $488.16. The stock had a trading volume of 454,513 shares, compared to its average volume of 953,107. The stock has a market cap of $75.46 billion, a PE ratio of 33.62, a PEG ratio of 3.41 and a beta of 1.12. The company has a fifty day simple moving average of $523.58 and a 200-day simple moving average of $528.92. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.