Independent Advisor Alliance Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Independent Advisor Alliance reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,734 shares of the semiconductor company’s stock after selling 670 shares during the quarter. Independent Advisor Alliance’s holdings in Synopsys were worth $1,891,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its stake in shares of Synopsys by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock worth $2,332,000 after buying an additional 488 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Synopsys by 39.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $914,000 after purchasing an additional 453 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Synopsys by 3.2% during the 1st quarter. Tidal Investments LLC now owns 6,833 shares of the semiconductor company’s stock worth $3,905,000 after purchasing an additional 215 shares during the period. Comerica Bank boosted its holdings in shares of Synopsys by 5.6% in the 1st quarter. Comerica Bank now owns 33,770 shares of the semiconductor company’s stock worth $19,300,000 after buying an additional 1,787 shares during the last quarter. Finally, Wahed Invest LLC grew its position in Synopsys by 16.2% during the first quarter. Wahed Invest LLC now owns 3,011 shares of the semiconductor company’s stock valued at $1,721,000 after buying an additional 419 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on SNPS shares. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Finally, Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Stock Down 1.4 %

Shares of NASDAQ SNPS opened at $553.95 on Wednesday. The company has a market cap of $85.09 billion, a P/E ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The business has a 50-day simple moving average of $523.08 and a two-hundred day simple moving average of $545.69.

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.