Anchor Investment Management LLC Has $1.82 Million Position in Synopsys, Inc. $SNPS

Anchor Investment Management LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,235 shares of the semiconductor company’s stock after acquiring an additional 279 shares during the quarter. Anchor Investment Management LLC’s holdings in Synopsys were worth $1,816,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock worth $6,359,747,000 after purchasing an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Synopsys by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $863,500,000 after purchasing an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Synopsys by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock worth $778,928,000 after purchasing an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Synopsys by 22.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock worth $739,857,000 after purchasing an additional 313,218 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 35.8%

Synopsys stock opened at $387.78 on Thursday. The stock has a market capitalization of $60.17 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $594.99 and a 200-day moving average of $506.99.

Insider Activity

In other news, CRO Richard S. Mahoney sold 9,010 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company’s stock, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock worth $13,168,999 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNPS. Bank of America restated an “underperform” rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a report on Wednesday. Citigroup cut shares of Synopsys from a “neutral” rating to an “underperform” rating in a report on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a report on Wednesday. Needham & Company LLC decreased their price objective on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday. Finally, KeyCorp decreased their price objective on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $599.00.

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.