Central Pacific Bank Trust Division Buys Shares of 3,094 Synopsys, Inc. $SNPS

Central Pacific Bank Trust Division bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, Holdings Channel.com reports. The institutional investor bought 3,094 shares of the semiconductor company’s stock, valued at approximately $1,586,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Synopsys by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock valued at $6,359,747,000 after acquiring an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $863,500,000 after buying an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Synopsys by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock worth $778,928,000 after buying an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Synopsys by 22.2% in the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock worth $739,857,000 after buying an additional 313,218 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNPS shares. Robert W. Baird restated a “neutral” rating and issued a $535.00 price objective (down from $670.00) on shares of Synopsys in a research note on Wednesday. Wall Street Zen cut shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley reduced their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday. The Goldman Sachs Group reduced their price objective on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC reduced their price objective on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $585.33.

Synopsys Trading Down 2.9%

Shares of SNPS stock opened at $425.45 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm’s fifty day simple moving average is $590.39 and its 200 day simple moving average is $506.54. The firm has a market capitalization 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.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 sale, the chief executive officer directly owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% 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 valued at $13,168,999. 0.62% of the stock is owned by company insiders.

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.