1,032 Shares in Synopsys, Inc. $SNPS Acquired by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC acquired 1,032 shares of Synopsys, Inc. valued at around $452,000, marking a new investment position in the semiconductor company.
• Analysts have given Synopsys a consensus rating of "Moderate Buy" with an average target price of $638.21, as several firms raised their price targets significantly.
• CEO Sassine Ghazi sold over 11,000 shares of Synopsys stock for approximately $6.7 million, decreasing his holdings by about 13.7%.

Eventide Asset Management LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,032 shares of the semiconductor company's stock, valued at approximately $452,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the period. Baird Financial Group Inc. grew its position in shares of Synopsys by 24.6% during the 4th quarter. Baird Financial Group Inc. now owns 9,048 shares of the semiconductor company's stock worth $4,392,000 after buying an additional 1,787 shares during the period. Captrust Financial Advisors grew its position in shares of Synopsys by 12.7% during the 4th quarter. Captrust Financial Advisors now owns 5,629 shares of the semiconductor company's stock worth $2,732,000 after buying an additional 635 shares during the period. Cetera Investment Advisers grew its position in shares of Synopsys by 3.7% during the 4th quarter. Cetera Investment Advisers now owns 28,548 shares of the semiconductor company's stock worth $13,856,000 after buying an additional 1,018 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Synopsys by 3.4% during the 4th quarter. EP Wealth Advisors LLC now owns 2,111 shares of the semiconductor company's stock worth $1,025,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Down 0.6%

Shares of SNPS stock traded down $3.82 during trading on Friday, reaching $598.14. The company's stock had a trading volume of 1,388,613 shares, compared to its average volume of 1,007,890. The business has a fifty day moving average price of $594.11 and a 200-day moving average price of $506.12. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a market cap of $92.81 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer owned 71,615 shares of the company's stock, valued at $42,181,951.15. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNPS. Bank of America boosted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. Morgan Stanley restated an "overweight" rating and set a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a report on Monday, August 11th. Rosenblatt Securities lifted their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $638.21.

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.