Cooper Financial Group Buys 1,462 Shares of Synopsys, Inc. $SNPS

Key Points

• Cooper Financial Group significantly increased its stake in Synopsys, Inc. by 96.1% during the 2nd quarter, owning a total of 2,984 shares valued at approximately $1.53 million.
• Several institutional investors, including HBW Advisory Services and North Star Asset Management, have also boosted their holdings in Synopsys, with institutional investors now owning 85.47% of the company's stock.
• Synopsys has experienced a fluctuation in analyst ratings, with some analysts downgrading their recommendations and adjusting price targets, reflecting ongoing market dynamics and investor sentiment.

Cooper Financial Group boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 96.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,984 shares of the semiconductor company's stock after buying an additional 1,462 shares during the period. Cooper Financial Group's holdings in Synopsys were worth $1,530,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SNPS. HBW Advisory Services LLC raised its holdings in shares of Synopsys by 494.9% in the second quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company's stock valued at $1,851,000 after purchasing an additional 3,004 shares during the last quarter. Westbourne Investments Inc. purchased a new stake in shares of Synopsys in the second quarter valued at about $1,505,000. North Star Asset Management Inc. raised its holdings in shares of Synopsys by 3.6% in the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after purchasing an additional 2,082 shares during the last quarter. SlateStone Wealth LLC raised its holdings in shares of Synopsys by 467.8% in the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after purchasing an additional 8,420 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of Synopsys by 13.1% in the second quarter. Redhawk Wealth Advisors Inc. now owns 7,069 shares of the semiconductor company's stock valued at $3,624,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

SNPS stock opened at $493.39 on Wednesday. The firm has a 50 day moving average of $567.08 and a 200-day moving average of $509.27. 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 12 month low of $365.74 and a 12 month high of $651.73. The firm has a market capitalization of $91.65 billion, a P/E ratio of 38.73, a price-to-earnings-growth ratio of 5.31 and a beta of 1.14.

Insider Activity

In related news, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm'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 sale, the chief accounting officer directly owned 20,520 shares of the company's stock, valued at $10,278,468. This trade represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of the firm'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 completion of the sale, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,894 shares of company stock valued at $16,760,783 over the last ninety days. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

SNPS has been the subject of several analyst reports. Zacks Research downgraded shares of Synopsys from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. The Goldman Sachs Group decreased their price objective on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Baird R W downgraded shares of Synopsys from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Finally, Mizuho decreased their price objective on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $585.33.

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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