Bay Harbor Wealth Management LLC Acquires 201 Shares of Synopsys, Inc. $SNPS

Bay Harbor Wealth Management LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 10,050.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203 shares of the semiconductor company’s stock after acquiring an additional 201 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Synopsys were worth $104,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. HBW Advisory Services LLC boosted its position in Synopsys by 494.9% in the second quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company’s stock valued at $1,851,000 after buying an additional 3,004 shares in the last quarter. Westbourne Investments Inc. acquired a new stake in Synopsys in the second quarter valued at approximately $1,505,000. Bourgeon Capital Management LLC acquired a new stake in Synopsys in the second quarter valued at approximately $451,000. North Star Asset Management Inc. boosted its position in Synopsys by 3.6% in the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company’s stock valued at $25,847,000 after buying an additional 2,082 shares in the last quarter. Finally, SlateStone Wealth LLC boosted its position in Synopsys by 467.8% in the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company’s stock valued at $4,383,000 after buying an additional 8,420 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 0.4%

Synopsys stock opened at $469.17 on Friday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The firm has a 50 day moving average price of $559.15 and a 200-day moving average price of $509.81. The company has a market capitalization of $87.15 billion, a P/E ratio of 36.83, a P/E/G ratio of 5.17 and a beta of 1.10. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNPS shares. Robert W. Baird reiterated a “neutral” rating and set a $535.00 price target (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Morgan Stanley dropped their target price on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Mizuho dropped their target price on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $575.31.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the sale, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert G. Painter bought 350 shares of the stock in a transaction on Thursday, September 11th. The stock was purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the purchase, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 30,894 shares of company stock valued at $16,760,783 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

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.