Amundi Has $346.35 Million Position in Synopsys, Inc. $SNPS

Key Points

• Amundi has reduced its holdings in Synopsys, Inc. by 11.0%, selling 102,870 shares and now owning about 0.54% of the company, valued at approximately $346 million.
• Insider transactions included CFO Shelagh Glaser selling 7,310 shares and CEO Sassine Ghazi selling 11,366 shares, indicating a significant reduction in their ownership stakes.
• Analysts have a consensus rating of "Moderate Buy" for Synopsys, with a target price range lifting to as high as $660.00 from various firms.

Amundi lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 829,073 shares of the semiconductor company's stock after selling 102,870 shares during the quarter. Amundi owned 0.54% of Synopsys worth $346,354,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. North Star Asset Management Inc. boosted its holdings in shares of Synopsys by 3.6% in the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 2,082 shares in the last quarter. SlateStone Wealth LLC boosted its holdings in shares of Synopsys by 467.8% in the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after acquiring an additional 8,420 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Synopsys in the 1st quarter worth approximately $1,000,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Synopsys by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after acquiring an additional 655 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Synopsys in the 1st quarter valued at about $3,116,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 transaction of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's 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 approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNPS shares. Morgan Stanley restated an "overweight" rating and issued a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research report on Monday, August 11th. KeyCorp raised their price objective on shares of Synopsys from $610.00 to $660.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Bank of America raised their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company restated a "positive" rating on shares of Synopsys in a research report on Wednesday, August 27th. Finally, Rosenblatt Securities raised their target price 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. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $638.21.

Synopsys Stock Performance

SNPS stock traded up $10.94 during mid-day trading on Monday, hitting $609.08. 1,706,177 shares of the company were exchanged, compared to its average volume of 1,400,711. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The business has a 50 day simple moving average of $594.11 and a 200-day simple moving average of $506.20. The stock has a market capitalization of $94.50 billion, a PE ratio of 43.98, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. The company has a current ratio of 7.02, a quick ratio of 6.85 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.