GC Wealth Management RIA LLC Invests $6.75 Million in Synopsys, Inc. $SNPS

Key Points

• GC Wealth Management RIA LLC invested approximately $6.75 million in Synopsys, Inc., purchasing 13,171 shares during the second quarter.
• Analysts have recently downgraded Synopsys with multiple price target reductions, leading to a consensus target price of $585.33 amidst varying ratings of buy, hold, and sell.
• Insider activity showed mixed signals, with Director Robert Painter buying 350 shares while CFO Shelagh Glaser sold 3,655 shares, indicating fluctuations in insider confidence.

GC Wealth Management RIA LLC bought a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 13,171 shares of the semiconductor company's stock, valued at approximately $6,753,000.

Several other hedge funds have also bought and sold shares of SNPS. Independence Bank of Kentucky increased its holdings in Synopsys by 120.0% in the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 30 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Synopsys by 275.0% during the 1st 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 period. Saudi Central Bank purchased a new position in shares of Synopsys during the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares during the period. Finally, WPG Advisers LLC bought a new position in Synopsys in the 1st quarter worth $34,000. Institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNPS. KeyCorp decreased their price target on Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Zacks Research downgraded Synopsys from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. Rosenblatt Securities reissued a "neutral" rating and issued a $605.00 price target (down from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Needham & Company LLC cut their price objective on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Finally, Baird R W downgraded shares of Synopsys from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Synopsys currently has an average rating of "Hold" and a consensus target price of $585.33.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Robert G. Painter purchased 350 shares of Synopsys stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

NASDAQ SNPS opened at $487.76 on Monday. 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 business has a 50 day simple moving average of $571.71 and a two-hundred day simple moving average of $509.13. The stock has a market capitalization of $90.60 billion, a PE ratio of 38.29, a P/E/G ratio of 5.51 and a beta of 1.14.

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.

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