Spire Wealth Management Sells 1,190 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Spire Wealth Management reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 62.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 716 shares of the semiconductor company’s stock after selling 1,190 shares during the period. Spire Wealth Management’s holdings in Synopsys were worth $348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davidson Capital Management Inc. boosted its stake in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after acquiring an additional 4,736 shares during the period. Peloton Wealth Strategists lifted its holdings in Synopsys by 221.2% during the 3rd 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 during the last quarter. Swiss National Bank boosted its position in Synopsys by 0.7% during 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 during the period. Parnassus Investments LLC acquired a new position in shares of Synopsys in the third quarter valued at $633,469,000. Finally, Harvest Portfolios Group Inc. raised its position in shares of Synopsys by 3.7% in 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 during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target 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 target price for the company. Robert W. Baird lowered their price target 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. One investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity

In other 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 value 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. This represents a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $533.18 on Friday. The firm has a market capitalization of $82.42 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a fifty day moving average of $514.44 and a 200 day moving average of $519.45.

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.