HBW Advisory Services LLC Has $1.85 Million Stock Holdings in Synopsys, Inc. $SNPS

HBW Advisory Services LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 494.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,611 shares of the semiconductor company’s stock after purchasing an additional 3,004 shares during the period. HBW Advisory Services LLC’s holdings in Synopsys were worth $1,851,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Jacobs & Co. CA boosted its position in Synopsys by 2.7% during the second quarter. Jacobs & Co. CA now owns 24,179 shares of the semiconductor company’s stock valued at $12,396,000 after purchasing an additional 639 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Synopsys in the second quarter valued at approximately $1,586,000. Cullen Investment Group LTD. lifted its position in shares of Synopsys by 92.9% in the second quarter. Cullen Investment Group LTD. now owns 3,233 shares of the semiconductor company’s stock valued at $1,657,000 after buying an additional 1,557 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Synopsys in the first quarter valued at approximately $2,710,000. Finally, Voya Investment Management LLC lifted its position in shares of Synopsys by 23.4% in the first quarter. Voya Investment Management LLC now owns 59,467 shares of the semiconductor company’s stock valued at $25,502,000 after buying an additional 11,260 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,031 shares of company stock worth $13,168,999. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $425.45 on Friday. The firm has a market cap of $79.03 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 3.32 and a beta of 1.14. The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The business’s 50 day moving average is $590.39 and its 200-day moving average is $506.54.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $605.00 price objective (down from $650.00) on shares of Synopsys in a research report on Wednesday. Mizuho cut their price objective on Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler cut their price objective on Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus cut their price objective on Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $585.33.

Synopsys Company 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.