AMI Asset Management Corp Sells 2,439 Shares of Synopsys, Inc. $SNPS

AMI Asset Management Corp reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,112 shares of the semiconductor company's stock after selling 2,439 shares during the period. Synopsys accounts for 1.7% of AMI Asset Management Corp's holdings, making the stock its 27th biggest holding. AMI Asset Management Corp's holdings in Synopsys were worth $29,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MCF Advisors LLC increased its holdings in Synopsys by 16.2% in the second quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company's stock valued at $70,000 after buying an additional 19 shares in the last quarter. Trust Point Inc. increased its stake in shares of Synopsys by 4.4% during the second quarter. Trust Point Inc. now owns 494 shares of the semiconductor company's stock worth $253,000 after purchasing an additional 21 shares in the last quarter. Hardy Reed LLC increased its stake in shares of Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC boosted its position in Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 22 shares during the last quarter. Finally, Trust Asset Management LLC boosted its position in Synopsys by 1.3% during the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after acquiring an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 0.9%

SNPS stock opened at $488.78 on Thursday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The stock has a market capitalization of $90.79 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. The company has a fifty day moving average of $564.57 and a 200-day moving average of $509.13.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares of the company's stock, valued at $10,278,468. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,894 shares of company stock worth $16,760,783 over the last quarter. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group cut their target price on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Bank of America restated an "underperform" rating and issued a $525.00 target price (down previously from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Needham & Company LLC lowered their target price on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Finally, Wall Street Zen cut shares of Synopsys from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Synopsys currently has an average rating of "Hold" and a consensus price target of $585.33.

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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