Checchi Capital Advisers LLC Boosts Holdings in Synopsys, Inc. $SNPS

Checchi Capital Advisers LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,927 shares of the semiconductor company’s stock after buying an additional 26 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Synopsys were worth $988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Synopsys during the 1st quarter valued at $221,000. Gateway Investment Advisers LLC grew its holdings in shares of Synopsys by 25.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 111 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Synopsys by 27.1% during the 1st quarter. Sivia Capital Partners LLC now owns 614 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 131 shares during the last quarter. Finally, Barden Capital Management Inc. grew its holdings in shares of Synopsys by 3.4% during the 1st quarter. Barden Capital Management Inc. now owns 1,894 shares of the semiconductor company’s stock valued at $812,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.4%

Shares of NASDAQ SNPS opened at $469.17 on Monday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The stock has a market cap of $87.15 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The firm has a 50-day moving average of $559.15 and a 200 day moving average of $510.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 10th. Zacks Research lowered shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. Bank of America reissued an “underperform” rating and issued a $525.00 price target (down previously from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Citigroup lowered shares of Synopsys from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 10th. Finally, Morgan Stanley cut their price target 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. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $575.31.

Insider Activity

In other news, Director Robert G. Painter bought 350 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the transaction, the chief accounting officer directly owned 20,520 shares of the company’s stock, valued at $10,278,468. This trade represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,894 shares of company stock valued at $16,760,783 over the last ninety days. 0.62% of the stock is currently owned by corporate 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.