ASR Vermogensbeheer N.V. Decreases Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• ASR Vermogensbeheer N.V. has reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.9%, now owning 20,202 shares valued at approximately $10.36 million.
• Synopsys' stock price declined by 3.6%, and the company's market cap is currently $87.51 billion with a price-to-earnings ratio of 36.98.
• Analyst ratings for Synopsys have been mixed, with eleven analysts giving a Buy rating and others setting revised price targets between $425.00 and $600.00.

ASR Vermogensbeheer N.V. reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,202 shares of the semiconductor company's stock after selling 2,217 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Synopsys were worth $10,357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Independence Bank of Kentucky grew its position in Synopsys by 120.0% in the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 30 shares in the last quarter. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares during the period. Saudi Central Bank bought a new stake in shares of Synopsys in the 1st quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of Synopsys during the 1st quarter valued at approximately $34,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 3.6%

NASDAQ:SNPS opened at $471.14 on Friday. 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 1-year low of $365.74 and a 1-year high of $651.73. The company has a 50-day moving average of $561.80 and a 200 day moving average of $509.25. The firm has a market cap of $87.51 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 5.39 and a beta of 1.10.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. BNP Paribas initiated coverage on shares of Synopsys in a research note on Thursday. They set an "underperform" rating and a $425.00 price target for the company. Mizuho reduced their price objective on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $575.31.

Insider Buying and Selling at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company'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 in the company, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the sale, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,894 shares of company stock worth $16,760,783 over the last quarter. 0.62% of the stock is currently owned by company insiders.

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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