Pitti Group Wealth Management LLC Has $274,000 Stock Holdings in Synopsys, Inc. $SNPS

Pitti Group Wealth Management LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 535 shares of the semiconductor company’s stock after acquiring an additional 35 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Synopsys were worth $274,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 acquiring an additional 346,994 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Synopsys by 38.3% during 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 purchasing an additional 673,837 shares during the period. Ameriprise Financial Inc. grew 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 purchasing an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 purchasing an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Synopsys by 22.2% in the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after purchasing an additional 313,218 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on SNPS shares. Wall Street Zen downgraded Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Rosenblatt Securities restated a “neutral” rating and set a $605.00 price objective (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Baird R W cut Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Morgan Stanley decreased their target price on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Finally, KeyCorp lowered their price target on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Synopsys currently has an average rating of “Hold” and a consensus target price of $585.33.

Synopsys Trading Down 4.5%

NASDAQ SNPS opened at $468.09 on Thursday. The stock has a market capitalization of $86.95 billion, a P/E ratio of 36.74, a P/E/G ratio of 5.53 and a beta of 1.14. The business has a 50 day simple moving average of $575.69 and a 200 day simple moving average of $507.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the transaction, the chief accounting officer owned 20,520 shares in the company, valued at $10,278,468. The trade was a 32.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,894 shares of company stock worth $16,760,783. Corporate insiders own 0.62% 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.