1248 Management LLC Reduces Position in Synopsys, Inc. $SNPS

Key Points

• 1248 Management LLC reduced its position in Synopsys, Inc. by 35.1%, selling 977 shares to own a total of 1,809 shares worth $776,000 at the end of the most recent quarter.
• Multiple institutions increased their stakes in Synopsys, including Aptus Capital Advisors LLC, which grew its position by 58.1%, and Ameriprise Financial Inc., which purchased an additional 391,681 shares.
• Research firms are optimistic about Synopsys, with the average target price set at $634.64, and 12 analysts giving it a "Buy" rating.

1248 Management LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 35.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,809 shares of the semiconductor company's stock after selling 977 shares during the quarter. 1248 Management LLC's holdings in Synopsys were worth $776,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNPS. Brighton Jones LLC boosted its position in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares during the period. Aptus Capital Advisors LLC grew its position in Synopsys by 58.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,288 shares of the semiconductor company's stock valued at $1,111,000 after acquiring an additional 841 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares during the last quarter. BNP Paribas boosted its holdings in Synopsys by 54.4% in the fourth quarter. BNP Paribas now owns 32,010 shares of the semiconductor company's stock valued at $15,537,000 after acquiring an additional 11,274 shares in the last quarter. Finally, Banque de Luxembourg S.A. bought a new stake in Synopsys in the fourth quarter valued at $6,237,000. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SNPS. KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a report on Wednesday. Morgan Stanley restated an "overweight" rating and set a $715.00 price target (up previously from $540.00) on shares of Synopsys in a report on Monday, August 11th. Finally, Rosenblatt Securities upped their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.64.

Synopsys Stock Down 1.4%

Synopsys stock opened at $603.52 on Monday. The firm has a market cap of $93.64 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The business's 50-day moving average price is $583.07 and its 200 day moving average price is $503.25. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

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.

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