Avanza Fonder AB Sells 1,017 Shares of 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 cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC filing.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted 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 last quarter. Saudi Central Bank acquired a new position in Synopsys during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Synopsys during the fourth quarter valued at approximately $29,000. Finally, WPG Advisers LLC acquired a new position in Synopsys during the first quarter valued at approximately $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert G. Painter purchased 350 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the purchase, the director owned 2,291 shares in the company, valued at approximately $974,683.04. The trade was a 18.03% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

Synopsys stock opened at $495.50 on Friday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The stock's fifty day moving average price is $580.02 and its two-hundred day moving average price is $506.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The firm has a market cap of $92.04 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNPS. Mizuho reduced their price target on Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Zacks Research cut Synopsys from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Bank of America reaffirmed an "underperform" rating and issued a $525.00 price objective (down from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. Morgan Stanley cut their price objective on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research report on Thursday, September 11th. Finally, Wells Fargo & Company cut their price objective on Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $585.33.

Synopsys Company 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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