Manchester Capital Management LLC Sells 74 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Manchester Capital Management LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.8% during the fourth quarter, Holdings Channel reports. The firm owned 281 shares of the semiconductor company’s stock after selling 74 shares during the period. Manchester Capital Management LLC’s holdings in Synopsys were worth $136,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Davidson Capital Management Inc. lifted its position in shares of Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists lifted its position in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 1,984 shares in the last quarter. Swiss National Bank lifted its position in shares of Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new position in shares of Synopsys during the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its position in shares of 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.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Robert W. Baird lowered their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Down 1.1 %

NASDAQ SNPS opened at $522.53 on Friday. The company’s 50 day moving average is $510.78 and its 200-day moving average is $518.06. The firm has a market cap of $80.77 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month 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.