Synopsys (NASDAQ:SNPS) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Synopsys (NASDAQ:SNPS) from a hold rating to a sell rating in a research report report published on Saturday.

SNPS has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 10th. KeyCorp dropped their target price on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Citigroup lowered shares of Synopsys from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 10th. Robert W. Baird reiterated a “neutral” rating and set a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. Finally, Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $585.33.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $419.20 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. The firm has a fifty day moving average price of $588.04 and a 200 day moving average price of $506.89. Synopsys has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The firm has a market cap of $77.87 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 5.60 and a beta of 1.14.

Insider Buying and Selling at Synopsys

In other Synopsys 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 $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive owned 1,485 shares of the company’s stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,031 shares of company stock worth $13,168,999 over the last three months. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synopsys

Several institutional investors have recently made changes to their positions in the company. Lionshead Wealth Management LLC lifted its holdings in shares of Synopsys by 1.9% in the 2nd quarter. Lionshead Wealth Management LLC now owns 914 shares of the semiconductor company’s stock worth $469,000 after acquiring an additional 17 shares during the last quarter. YANKCOM Partnership lifted its holdings in shares of Synopsys by 3.3% in the 2nd quarter. YANKCOM Partnership now owns 537 shares of the semiconductor company’s stock worth $275,000 after acquiring an additional 17 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Synopsys by 5.3% in the 2nd quarter. Manchester Capital Management LLC now owns 340 shares of the semiconductor company’s stock worth $174,000 after acquiring an additional 17 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Synopsys by 10.1% in the 2nd quarter. Hemington Wealth Management now owns 197 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 18 shares during the last quarter. Finally, Concord Asset Management LLC VA lifted its holdings in shares of Synopsys by 0.8% in the 2nd quarter. Concord Asset Management LLC VA now owns 2,379 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

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.