ABLE Financial Group LLC Raises Stake in Synopsys, Inc. $SNPS

Key Points

• ABLE Financial Group LLC increased its holdings in Synopsys, Inc. by 23.3%, owning 4,559 shares valued at approximately $2.34 million by the end of the second quarter.
• Insider transactions include Director Robert G. Painter purchasing 350 shares at $425.44 each, while CEO Sassine Ghazi sold 11,366 shares at an average price of $589.01, marking an 18.03% increase in Painter's position and a 13.70% decrease for Ghazi.
• Synopsys' stock currently trades at $495.50, with a consensus price target of $585.33 following multiple analysts lowering their price targets this month.

ABLE Financial Group LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,559 shares of the semiconductor company's stock after purchasing an additional 863 shares during the period. ABLE Financial Group LLC's holdings in Synopsys were worth $2,337,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted 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 valued at $447,000 after acquiring an additional 50 shares during the period. Focus Partners Advisor Solutions LLC increased its position in shares of Synopsys by 44.4% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 755 shares of the semiconductor company's stock valued at $366,000 after purchasing an additional 232 shares during the last quarter. Vise Technologies Inc. raised its stake in Synopsys by 57.4% in the 4th quarter. Vise Technologies Inc. now owns 2,068 shares of the semiconductor company's stock valued at $1,004,000 after acquiring an additional 754 shares during the period. GTS Securities LLC increased its holdings in shares of Synopsys by 350.6% in the fourth quarter. GTS Securities LLC now owns 1,514 shares of the semiconductor company's stock worth $735,000 after purchasing an additional 1,178 shares during the period. Finally, Formidable Asset Management LLC bought a new position in Synopsys in the 4th quarter worth about $604,000. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $605.00 price objective (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Baird R W lowered Synopsys from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Needham & Company LLC dropped their price objective on Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Mizuho reduced their price objective on Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group dropped their price target on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Synopsys has a consensus rating of "Hold" and a consensus price target of $585.33.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded up $19.29 on Monday, reaching $514.79. 4,773,051 shares of the company traded hands, compared to its average volume of 4,077,129. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The stock has a market capitalization of $95.62 billion, a PE ratio of 40.41, a P/E/G ratio of 5.60 and a beta of 1.14. The company's 50 day moving average is $579.33 and its 200-day moving average is $507.65.

Insider Transactions at Synopsys

In other Synopsys news, Director Robert G. Painter purchased 350 shares of the business's stock in a transaction on Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the transaction, the director directly owned 2,291 shares of the company's stock, valued at $974,683.04. This represents a 18.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

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.