AlphaCore Capital LLC Trims Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

AlphaCore Capital LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,919 shares of the semiconductor company's stock after selling 531 shares during the period. AlphaCore Capital LLC's holdings in Synopsys were worth $2,387,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Advisors Capital Management LLC raised its position in shares of Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares during the period. Caprock Group LLC raised its holdings in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock worth $1,803,000 after buying an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after buying an additional 20 shares during the last quarter. Edge Capital Group LLC raised its holdings in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after buying an additional 20 shares during the last quarter. Finally, Barden Capital Management Inc. raised its holdings in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Bank of America lowered their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $614.86.

Synopsys Stock Down 9.6%

NASDAQ SNPS traded down $49.36 during trading hours on Wednesday, reaching $462.43. 4,790,448 shares of the company were exchanged, compared to its average volume of 1,120,584. The business's 50 day simple moving average is $453.18 and its 200-day simple moving average is $487.60. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a market capitalization of $71.50 billion, a P/E ratio of 31.85, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value 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 $51,850,925.82. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

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.