Synopsys, Inc. $SNPS Shares Bought by Norden Group LLC

Norden Group LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 39.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,426 shares of the semiconductor company’s stock after buying an additional 684 shares during the period. Norden Group LLC’s holdings in Synopsys were worth $1,244,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC boosted its holdings in shares of Synopsys by 16.2% in the second quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 19 shares in the last quarter. Trust Point Inc. lifted its position in Synopsys by 4.4% in the second quarter. Trust Point Inc. now owns 494 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 21 shares during the period. Hardy Reed LLC boosted its stake in Synopsys by 0.7% during the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company’s stock valued at $1,411,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC increased its position in shares of Synopsys by 2.7% during the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 22 shares during the period. Finally, Trust Asset Management LLC raised its stake in shares of Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company’s stock worth $757,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, 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 sale, the chief executive officer directly owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert G. Painter bought 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, with a total value of $148,904.00. Following the acquisition, the director directly owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNPS shares. Citigroup cut Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Morgan Stanley cut their price target on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Mizuho reduced their price objective on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. Rosenblatt Securities reiterated a “neutral” rating and issued a $605.00 target price (down from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, Bank of America reissued an “underperform” rating and set a $525.00 target price (down from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $585.33.

Synopsys Stock Performance

Shares of SNPS opened at $468.09 on Thursday. The company has a 50-day moving average of $575.69 and a two-hundred day moving average of $507.26. The stock has a market cap of $86.95 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 5.53 and a beta of 1.14. 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.

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.