Empirical Financial Services LLC d.b.a. Empirical Wealth Management Reduces Position in Synopsys, Inc. $SNPS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 760 shares of the semiconductor company’s stock after selling 33 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Synopsys were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SNPS. Vanguard Group Inc. grew its stake in Synopsys by 2.4% during 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 purchasing an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock valued at $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock valued at $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 boosted its position in 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 valued at $778,928,000 after buying an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position 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 buying an additional 313,218 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert G. Painter bought 350 shares of Synopsys stock in a transaction on Thursday, September 11th. The shares were bought at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the purchase, the director directly owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 20,520 shares in the company, valued at approximately $10,278,468. The trade was a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,894 shares of company stock valued at $16,760,783 over the last three months. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Down 0.4%

NASDAQ SNPS opened at $469.17 on Monday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $559.15 and its 200-day simple moving average is $510.22. The firm has a market cap of $87.15 billion, a PE ratio of 36.83, a P/E/G ratio of 5.17 and a beta of 1.10.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Piper Sandler dropped their price objective on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Stifel Nicolaus lowered their price target on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group lowered their price target on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Baird R W downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Hold” and a consensus price target of $575.31.

Synopsys 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.