EP Wealth Advisors LLC Has $1.25 Million Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• EP Wealth Advisors LLC increased its holdings in Synopsys, Inc. by 37.9%, acquiring an additional 800 shares to total 2,911 shares valued at $1,248,000.
• Wall Street analysts are optimistic about Synopsys, with a consensus price target of $638.21 and twelve analysts rating the stock as a Buy.
• Recent insider sales include CRO Richard S. Mahoney selling 9,010 shares, representing a 85.85% decrease in his position, while CEO Sassine Ghazi sold 11,366 shares, a 13.70% decrease in his ownership.

EP Wealth Advisors LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,911 shares of the semiconductor company's stock after buying an additional 800 shares during the period. EP Wealth Advisors LLC's holdings in Synopsys were worth $1,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNPS. 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 stake in Synopsys during the first quarter valued at $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 stake in Synopsys during the fourth quarter valued at $29,000. Finally, WPG Advisers LLC acquired a new stake in Synopsys during the first quarter valued at $34,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on 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 transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 completion of the sale, the chief executive officer owned 71,615 shares of the company's stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Performance

SNPS traded up $10.94 on Monday, hitting $609.08. 1,728,430 shares of the stock traded hands, compared to its average volume of 1,404,517. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $94.50 billion, a PE ratio of 43.98, a P/E/G ratio of 3.93 and a beta of 1.14. The business has a fifty day moving average price of $594.11 and a two-hundred day moving average price of $506.20.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. 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. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. 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. Finally, Morgan Stanley restated an "overweight" rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $638.21.

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.