Synopsys, Inc. $SNPS Stock Position Lowered by 1248 Management LLC

1248 Management LLC lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 14.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,392 shares of the semiconductor company’s stock after selling 394 shares during the quarter. 1248 Management LLC’s holdings in Synopsys were worth $1,026,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. GAMMA Investing LLC lifted its position 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 buying an additional 1,194,292 shares in the last quarter. Nuveen LLC bought a new position in shares of Synopsys during the 1st quarter valued at $341,480,000. Pictet Asset Management Holding SA raised its holdings 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 purchasing an additional 673,837 shares in the last quarter. Generation Investment Management LLP bought a new position in shares of Synopsys during the 1st quarter valued at $240,491,000. Finally, Vanguard Group Inc. grew its stake in Synopsys by 2.4% in 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 last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the 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 transaction, the executive owned 1,485 shares of the company’s stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock valued at $13,168,999 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SNPS shares. KeyCorp lowered their target price on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating on the stock in a research note on Wednesday. Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lowered shares of Synopsys from a “neutral” rating to an “underperform” rating in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $605.00 target price (down from $650.00) on shares of Synopsys 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $585.33.

Synopsys Stock Up 13.0%

Shares of NASDAQ:SNPS opened at $438.10 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 6.85 and a current ratio of 1.62. The company has a market capitalization of $67.98 billion, a PE ratio of 34.39, a PEG ratio of 2.55 and a beta of 1.14. The company has a 50 day moving average price of $592.81 and a two-hundred day moving average price of $506.77.

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.