Bath Savings Trust Co Has $1.50 Million Holdings in Synopsys, Inc. $SNPS

Key Points

• Bath Savings Trust Co significantly increased its stake in Synopsys, Inc. by 242.2% during the second quarter, now owning 2,919 shares valued at approximately $1.5 million.
• Other institutional investors also boosted their holdings, with 85.47% of Synopsys stock now owned by hedge funds and institutional investors.
• Wall Street analysts have revised their price targets for Synopsys, with a consensus rating of "Hold" and an average price target of $585.33.

Bath Savings Trust Co grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 242.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,919 shares of the semiconductor company's stock after buying an additional 2,066 shares during the quarter. Bath Savings Trust Co's holdings in Synopsys were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBW Advisory Services LLC grew its stake in shares of Synopsys by 494.9% during the second quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company's stock worth $1,851,000 after buying an additional 3,004 shares during the last quarter. Westbourne Investments Inc. bought a new stake in shares of Synopsys during the second quarter worth $1,505,000. North Star Asset Management Inc. lifted its holdings in shares of Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after purchasing an additional 2,082 shares during the period. SlateStone Wealth LLC lifted its holdings in shares of Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after purchasing an additional 8,420 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Synopsys during the first quarter worth $1,000,000. Institutional investors own 85.47% of the company's stock.

Insider Activity

In related news, Director Robert G. Painter acquired 350 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. KeyCorp cut their price target on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Mizuho cut their price target on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Finally, Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $585.33.

Synopsys Trading Up 3.2%

SNPS stock traded up $15.39 during midday trading on Friday, hitting $495.50. The stock had a trading volume of 6,094,205 shares, compared to its average volume of 3,815,305. The firm has a market cap of $92.04 billion, a P/E ratio of 38.89, a price-to-earnings-growth 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. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The business has a fifty day moving average price of $580.02 and a two-hundred day moving average price of $506.37.

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.