Bourgeon Capital Management LLC Purchases Shares of 879 Synopsys, Inc. $SNPS

Key Points

• Bourgeon Capital Management LLC acquired 879 shares of Synopsys, Inc. for approximately $451,000 during the second quarter.
• Analysts have revised their price targets for Synopsys, with ranges now between $525.00 to $605.00, reflecting a mix of ratings from "buy" to "sell."
• Insider trading activity shows significant sales, with the CFO selling 3,655 shares and the CAO selling 9,873 shares recently.

Bourgeon Capital Management LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 879 shares of the semiconductor company's stock, valued at approximately $451,000.

A number of other large investors have also made changes to their positions in the company. MCF Advisors LLC grew its stake in shares of Synopsys by 16.2% during the 2nd quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company's stock valued at $70,000 after purchasing an additional 19 shares during the period. Trust Point Inc. lifted its position in shares of Synopsys by 4.4% during the 2nd quarter. Trust Point Inc. now owns 494 shares of the semiconductor company's stock valued at $253,000 after buying an additional 21 shares in the last quarter. Hardy Reed LLC lifted its position in shares of Synopsys by 0.7% during the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after buying an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC lifted its position in shares of Synopsys by 2.7% during the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after buying an additional 22 shares in the last quarter. Finally, Trust Asset Management LLC lifted its position in shares of Synopsys by 1.3% during the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock valued at $757,000 after buying an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a "neutral" rating and set a $605.00 price objective (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Bank of America reissued an "underperform" rating and issued a $525.00 price target (down from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. JPMorgan Chase & Co. lowered their price target on Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group lowered their price target on Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Finally, Zacks Research cut Synopsys from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $585.33.

Synopsys Stock Performance

NASDAQ:SNPS opened at $481.61 on Tuesday. 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 stock's 50 day simple moving average is $569.52 and its two-hundred day simple moving average is $509.38. The company has a market cap of $89.46 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 5.51 and a beta of 1.14.

Insider Buying and Selling

In other news, CFO Shelagh Glaser sold 3,655 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the transaction, the chief accounting officer directly owned 20,520 shares in the company, valued at approximately $10,278,468. This represents a 32.48% decrease in their position. 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 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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