Affinity Capital Advisors LLC Sells 775 Shares of Synopsys, Inc. $SNPS

Key Points

• Affinity Capital Advisors LLC reduced its stake in Synopsys, Inc. by 24.4% in Q2, now holding 2,400 shares valued at approximately $1.23 million.
• Institutional investors collectively own 85.47% of Synopsys stock, with recent activities including Brighton Jones LLC increasing their stake by 5.7% and Tidal Investments LLC boosting theirs by 159.3%.
• Multiple analyst reports have downgraded Synopsys' price targets, with Wells Fargo lowering it from $630 to $550 and Rosenblatt Securities reducing their target from $650 to $605.

Affinity Capital Advisors LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,400 shares of the semiconductor company's stock after selling 775 shares during the period. Affinity Capital Advisors LLC's holdings in Synopsys were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SNPS. GAMMA Investing LLC lifted its holdings in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Nuveen LLC bought a new stake in shares of Synopsys in the first quarter valued at about $341,480,000. Pictet Asset Management Holding SA lifted its holdings in shares of Synopsys by 38.3% in the first 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 in the last quarter. Generation Investment Management LLP bought a new stake in Synopsys during the first quarter worth about $240,491,000. Finally, Vanguard Group Inc. raised its holdings in Synopsys by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after acquiring an additional 346,994 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of several analyst reports. Citigroup lowered Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Mizuho dropped their target price on Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Wells Fargo & Company dropped their target price on Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 10th. KeyCorp dropped their target price on Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group dropped their target price on Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $585.33.

Insider Activity

In other news, Director Robert G. Painter bought 350 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the transaction, the director owned 2,291 shares of the company's stock, valued at $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on 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 directly owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

NASDAQ SNPS traded up $15.39 during trading on Friday, reaching $495.50. 6,094,205 shares of the company's stock were exchanged, compared to its average volume of 3,815,305. The business has a 50 day moving average price of $580.02 and a 200-day moving average price of $506.37. The stock has a market capitalization of $92.04 billion, a P/E ratio of 38.89, a PEG ratio of 5.42 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 fifty-two week low of $365.74 and a fifty-two week high of $651.73.

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.