Global Assets Advisory LLC Sells 1,431 Shares of Synopsys, Inc. $SNPS

Key Points

• Global Assets Advisory LLC reduced its holdings in Synopsys, Inc. by 58.9%, selling 1,431 shares, and now owns 998 shares valued at approximately $521,000.
• Major research firms have updated their price targets for Synopsys, with Wells Fargo lowering it from $630.00 to $550.00 and Morgan Stanley reducing theirs from $715.00 to $510.00.
• Insider activity showed CFO Shelagh Glaser sold 3,655 shares at an average price of $609.77, while Director Robert G. Painter acquired 350 shares at $425.44 each.

Global Assets Advisory LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 58.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 998 shares of the semiconductor company's stock after selling 1,431 shares during the quarter. Global Assets Advisory LLC's holdings in Synopsys were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 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 buying an additional 44 shares in the last quarter. Saudi Central Bank purchased a new stake in Synopsys during the first quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 30 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $34,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNPS. Wells Fargo & Company dropped their target price on Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 10th. Morgan Stanley lowered their price objective on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a report on Thursday, September 11th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. KeyCorp decreased their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Finally, Baird R W lowered shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $575.31.

Synopsys Price Performance

SNPS stock opened at $469.17 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. The firm has a 50 day moving average price of $559.15 and a 200-day moving average price of $510.22. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm has a market capitalization of $87.15 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 5.17 and a beta of 1.10.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the transaction, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. The trade was a 19.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert G. Painter acquired 350 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the transaction, the director directly owned 2,291 shares in the company, valued at $974,683.04. The trade was a 18.03% increase in their position. The disclosure for this purchase can be found here. Over 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 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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