National Wealth Management Group LLC Sells 885 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Wealth Management Group LLC cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 53.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 762 shares of the semiconductor company’s stock after selling 885 shares during the quarter. National Wealth Management Group LLC’s holdings in Synopsys were worth $386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC acquired a new position in Synopsys during the third quarter valued at approximately $633,469,000. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the 2nd quarter worth $572,050,000. Edgewood Management LLC raised its holdings in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $547.74 on Thursday. The business has a 50-day moving average of $524.12 and a 200-day moving average of $545.71. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company has a market capitalization of $84.14 billion, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Analyst Ratings Changes

Several research analysts have commented on SNPS shares. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. 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 target price on the stock. Wells Fargo & Company began coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $653.80.

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.