Curi RMB Capital LLC Grows Holdings in Synopsys, Inc. $SNPS

Key Points

• Curi RMB Capital LLC increased its stake in Synopsys, Inc. by 10.0%, now owning 99,161 shares valued at around $42.5 million, making it the 18th largest position in their portfolio.
• CEO Sassine Ghazi and CFO Shelagh Glaser each sold significant portions of their stocks, with Ghazi selling 11,366 shares and Glaser 7,310 shares, indicating a decrease in insider ownership.
• Analysts have set new price targets for Synopsys, with Piper Sandler raising theirs from $615 to $660, contributing to a consensus rating of "Moderate Buy" with an average target of $638.21.

Curi RMB Capital LLC grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,161 shares of the semiconductor company's stock after acquiring an additional 8,996 shares during the quarter. Synopsys comprises approximately 1.0% of Curi RMB Capital LLC's portfolio, making the stock its 18th biggest position. Curi RMB Capital LLC owned approximately 0.06% of Synopsys worth $42,525,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its position in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank purchased a new position in Synopsys in the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd grew its position in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after buying an additional 53 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Synopsys in the 4th quarter valued at $29,000. Finally, WPG Advisers LLC purchased a new position in Synopsys in the 1st quarter valued at $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded up $11.08 during midday trading on Monday, hitting $609.22. 1,709,863 shares of the stock were exchanged, compared to its average volume of 1,404,386. The stock has a market cap of $94.53 billion, a P/E ratio of 43.99, a PEG ratio of 3.93 and a beta of 1.14. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a 50 day moving average price of $594.11 and a 200-day moving average price of $506.20.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% 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 analyst reports. Piper Sandler lifted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Bank of America raised their target price on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. KeyCorp raised their target price on Synopsys from $610.00 to $660.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Needham & Company LLC reissued a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Rosenblatt Securities raised their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

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.