Ashton Thomas Securities LLC Sells 99 Shares of Synopsys, Inc. $SNPS

Ashton Thomas Securities LLC reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,767 shares of the semiconductor company’s stock after selling 99 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Synopsys were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. TIG Advisors LLC lifted its holdings in shares of Synopsys by 156.2% during the 1st quarter. TIG Advisors LLC now owns 13,658 shares of the semiconductor company’s stock worth $5,857,000 after acquiring an additional 8,327 shares during the period. Flputnam Investment Management Co. grew its holdings in Synopsys by 20.5% during the 1st quarter. Flputnam Investment Management Co. now owns 24,987 shares of the semiconductor company’s stock worth $10,716,000 after acquiring an additional 4,251 shares during the last quarter. QVT Financial LP boosted its stake in shares of Synopsys by 15.9% in the 1st quarter. QVT Financial LP now owns 4,503 shares of the semiconductor company’s stock valued at $1,931,000 after purchasing an additional 617 shares during the last quarter. Caption Management LLC acquired a new stake in shares of Synopsys in the 1st quarter valued at approximately $1,287,000. Finally, Saudi Central Bank acquired a new stake in shares of Synopsys in the 1st quarter valued at approximately $26,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Synopsys Trading Down 1.4%

SNPS stock opened at $603.52 on Monday. The company has a fifty day moving average price of $583.07 and a two-hundred day moving average price of $503.25. 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. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNPS. Rosenblatt Securities raised their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Bank of America lifted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Piper Sandler upped their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. KeyCorp increased their price target 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. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $715.00 price target (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $634.64.

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.