Synopsys (NASDAQ:SNPS) Stock Price Down 6.7% – Time to Sell?

Synopsys, Inc. (NASDAQ:SNPS) was down 6.7% on Wednesday . The company traded as low as $497.18 and last traded at $489.92. Approximately 413,780 shares traded hands during trading, a decline of 58% from the average daily volume of 986,666 shares. The stock had previously closed at $525.00.

Analyst Ratings Changes

A number of equities analysts recently commented on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Robert W. Baird reduced their price target on 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 set a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Trading Down 5.0 %

The business has a 50 day moving average of $511.45 and a 200-day moving average of $517.72. The stock has a market cap of $77.09 billion, a PE ratio of 34.34, a P/E/G ratio of 3.42 and a beta of 1.12.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SNPS. Formidable Asset Management LLC acquired a new position in Synopsys during the fourth quarter worth $604,000. North Star Asset Management Inc. grew its holdings in Synopsys by 2.8% during the fourth quarter. North Star Asset Management Inc. now owns 58,188 shares of the semiconductor company’s stock worth $28,242,000 after acquiring an additional 1,598 shares during the period. GF Fund Management CO. LTD. acquired a new position in Synopsys during the fourth quarter worth $41,427,000. GTS Securities LLC grew its holdings in Synopsys by 350.6% during the fourth quarter. GTS Securities LLC now owns 1,514 shares of the semiconductor company’s stock worth $735,000 after acquiring an additional 1,178 shares during the period. Finally, Vise Technologies Inc. grew its holdings in Synopsys by 57.4% during the fourth quarter. Vise Technologies Inc. now owns 2,068 shares of the semiconductor company’s stock worth $1,004,000 after acquiring an additional 754 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

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.