Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Global Assets Advisory LLC

Global Assets Advisory LLC trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 839 shares of the semiconductor company’s stock after selling 43 shares during the quarter. Global Assets Advisory LLC’s holdings in Synopsys were worth $405,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter worth approximately $34,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter valued at approximately $39,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Bank of America decreased their price target on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Mizuho dropped their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $613.43.

Synopsys Price Performance

SNPS opened at $482.69 on Friday. The stock’s 50 day moving average price is $437.18 and its 200 day moving average price is $489.10. The stock has a market cap of $74.63 billion, a P/E ratio of 33.24, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80.

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.