Andina Capital Management LLC Sells 188 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Andina Capital Management LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 27.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 505 shares of the semiconductor company’s stock after selling 188 shares during the period. Andina Capital Management LLC’s holdings in Synopsys were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State Street Corp boosted its position in 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 purchasing an additional 119,057 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $1,656,005,000 after buying an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its stake 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 buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased 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 buying an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in Synopsys during the third quarter worth $633,469,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related 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 sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS opened at $546.19 on Friday. The stock has a fifty day moving average of $518.68 and a 200-day moving average of $524.17. The company has a market capitalization of $84.43 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

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.