DRW Securities LLC Lowers Stock Holdings in Synopsys, Inc. $SNPS

DRW Securities LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 79.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,912 shares of the semiconductor company’s stock after selling 7,437 shares during the period. DRW Securities LLC’s holdings in Synopsys were worth $820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. GAMMA Investing LLC grew its stake in Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after acquiring an additional 1,194,292 shares during the period. Nuveen LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at $341,480,000. Pictet Asset Management Holding SA grew its stake in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock valued at $1,043,518,000 after buying an additional 673,837 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock valued at $916,441,000 after buying an additional 391,681 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock valued at $6,359,747,000 after buying an additional 346,994 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Stock Down 1.4%

Shares of Synopsys stock opened at $603.52 on Monday. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $93.64 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. The company has a fifty day moving average price of $583.07 and a 200 day moving average price of $503.25.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNPS. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Wells Fargo & Company reissued a “positive” rating on shares of Synopsys in a research note on Wednesday. Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Piper Sandler boosted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.64.

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.