Gradient Investments LLC Acquires 9,215 Shares of Synopsys, Inc. $SNPS

Key Points

• Gradient Investments LLC increased its stake in Synopsys, Inc. by 28.8%, acquiring an additional 9,215 shares, bringing its total holdings to 41,237 shares worth approximately $21.14 million.
• Institutional investors hold 85.47% of Synopsys, indicating strong institutional interest in the company amidst various stake adjustments by other investors.
• Analysts have revised their price targets for Synopsys, with several downgrades leading to a new average price target of $585.33 and a consensus rating of "Moderate Buy."

Gradient Investments LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 28.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,237 shares of the semiconductor company's stock after purchasing an additional 9,215 shares during the quarter. Gradient Investments LLC's holdings in Synopsys were worth $21,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Brighton Jones LLC raised its stake in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares during the period. Shell Asset Management Co. raised its stake in Synopsys by 74.2% during the 4th quarter. Shell Asset Management Co. now owns 2,552 shares of the semiconductor company's stock valued at $1,239,000 after purchasing an additional 1,087 shares during the period. Strategic Wealth Partners Ltd. increased its stake in Synopsys by 16.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 1,844 shares of the semiconductor company's stock worth $974,000 after acquiring an additional 257 shares during the last quarter. Stonebrook Private Inc. bought a new stake in Synopsys in the 4th quarter worth approximately $353,000. Finally, Troluce Capital Advisors LLC bought a new stake in Synopsys in the 4th quarter worth approximately $3,431,000. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction 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 completion of the transaction, the executive directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,031 shares of company stock valued at $13,168,999. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SNPS shares. Stifel Nicolaus reduced their price objective on Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Baird R W downgraded Synopsys from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a research note on Wednesday, September 10th. Wall Street Zen downgraded Synopsys from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Piper Sandler reduced their price objective on Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $585.33.

Synopsys Trading Down 2.9%

SNPS opened at $425.45 on Monday. The firm has a market cap of $79.03 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 5.60 and a beta of 1.14. 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 stock has a fifty day moving average price of $590.39 and a 200-day moving average price of $507.16.

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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