Signet Financial Management LLC Has $2.12 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Signet Financial Management LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,363 shares of the semiconductor company’s stock after selling 45 shares during the quarter. Signet Financial Management LLC’s holdings in Synopsys were worth $2,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Davidson Capital Management Inc. boosted its stake in Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares in the last quarter. Peloton Wealth Strategists increased its stake in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the period. Swiss National Bank raised its position in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in Synopsys during the third quarter worth about $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Synopsys stock traded down $5.11 during midday trading on Monday, hitting $487.43. The company’s stock had a trading volume of 890,831 shares, compared to its average volume of 1,018,369. The company has a 50-day moving average price of $523.58 and a two-hundred day moving average price of $528.92. The company has a market cap of $75.35 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNPS. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday. Robert W. Baird reduced their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Redburn Atlantic assumed coverage on Synopsys in a research note on Monday. They set a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Company 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.