Avanza Fonder AB Has $5.05 Million Stake in Synopsys, Inc. $SNPS

Key Points

• Avanza Fonder AB reduced its stake in Synopsys, Inc. by 9.4%, selling 1,017 shares and now holding a total of 9,858 shares valued at $5,054,000.
• CEO Sassine Ghazi sold 11,366 shares, a 13.70% decrease in his position, while Director Robert G. Painter increased his holdings by purchasing 350 shares.
• Analyst ratings for Synopsys are varied, with recent downgrades and an average price target of $585.33, indicating a general sentiment of caution among brokerages.

Avanza Fonder AB trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,858 shares of the semiconductor company's stock after selling 1,017 shares during the quarter. Avanza Fonder AB's holdings in Synopsys were worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Vanguard Group Inc. lifted its stake in shares of Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after purchasing an additional 346,994 shares during the period. Pictet Asset Management Holding SA grew 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 worth $1,043,518,000 after acquiring an additional 673,837 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock worth $863,500,000 after acquiring an additional 125,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Synopsys by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company's stock valued at $778,928,000 after purchasing an additional 305,489 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company's stock valued at $739,857,000 after purchasing an additional 313,218 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of SNPS stock traded down $23.60 during trading hours on Tuesday, hitting $491.19. The company's stock had a trading volume of 2,683,545 shares, compared to its average volume of 1,748,005. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The business has a fifty day moving average of $579.33 and a 200-day moving average of $507.65. The stock has a market cap of $91.24 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 5.60 and a beta of 1.14. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the business'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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shelagh Glaser sold 3,655 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,894 shares of company stock worth $16,760,783. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. KeyCorp decreased their target price on Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Wall Street Zen cut Synopsys from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. 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. Baird R W cut Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group decreased their price objective on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Synopsys currently has a consensus rating of "Hold" and a consensus target price of $585.33.

About Synopsys

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.