Synopsys, Inc. $SNPS Shares Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 92.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,233 shares of the semiconductor company’s stock after purchasing an additional 1,557 shares during the quarter. Cullen Investment Group LTD.’s holdings in Synopsys were worth $1,657,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SNPS. Cornerstone Planning Group LLC raised its stake in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of Synopsys in the 1st quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys in the 4th quarter valued at about $29,000. Finally, WPG Advisers LLC acquired a new stake in shares of Synopsys in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the firm’s 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 owned 15,317 shares in the company, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,031 shares of company stock worth $13,168,999. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reiterated an “underperform” rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a research note on Wednesday. Finally, KeyCorp dropped their price objective on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating on the stock in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $585.33.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $425.45 on Friday. The firm’s 50 day moving average is $590.39 and its two-hundred day moving average is $506.54. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The firm has a market capitalization of $79.03 billion, a P/E ratio of 33.39, a PEG 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.

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.