Greenleaf Trust Trims Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• Greenleaf Trust has reduced its stake in Synopsys, Inc. by 19.4% in the second quarter, bringing its holdings to 6,523 shares valued at $3.34 million.
• Institutional investors are actively engaging with Synopsys, with major firms like Vanguard, Pictet Asset Management, and Ameriprise Financial increasing their stakes during the first quarter.
• Synopsys is currently facing mixed analyst ratings, with recent target price adjustments ranging from $550 to $600, reflecting a cautious outlook for the stock.

Greenleaf Trust reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,523 shares of the semiconductor company's stock after selling 1,570 shares during the period. Greenleaf Trust's holdings in Synopsys were worth $3,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after acquiring an additional 346,994 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after acquiring an additional 673,837 shares in the last quarter. Ameriprise Financial Inc. grew its position in Synopsys by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock valued at $863,500,000 after acquiring an additional 125,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Synopsys by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company's stock valued at $778,928,000 after acquiring an additional 305,489 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Synopsys by 22.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company's stock valued at $739,857,000 after acquiring an additional 313,218 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of SNPS opened at $493.39 on Wednesday. The stock has a 50 day moving average price of $567.08 and a 200 day moving average price of $509.27. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $91.65 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 5.31 and a beta of 1.14. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.

Insiders Place Their Bets

In related news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the transaction, the chief accounting officer directly owned 20,520 shares of the company's stock, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 15,317 shares of the company's stock, valued at $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale 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 company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNPS shares. The Goldman Sachs Group dropped their target price on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $605.00 target price (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Wells Fargo & Company lowered their price objective 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. Zacks Research downgraded Synopsys from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Finally, Needham & Company LLC lowered their price objective on Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $585.33.

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.

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