Intech Investment Management LLC Trims Stock Position in Synopsys, Inc. $SNPS

Key Points

• Intech Investment Management LLC reduced its stock position in Synopsys, Inc. by 22.1%, ending the first quarter with 6,798 shares valued at approximately $2.9 million.
• Multiple institutional investors modified their holdings in Synopsys, with notable increases from North Star Asset Management (3.6%) and SlateStone Wealth (467.8%) during the same period.
• Recent analyst ratings for Synopsys have fluctuated, with Citigroup downgrading the stock from "neutral" to "underperform," while other firms adjusted price targets, reflecting a cautious outlook amid market changes.

Intech Investment Management LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 22.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,798 shares of the semiconductor company's stock after selling 1,926 shares during the period. Intech Investment Management LLC's holdings in Synopsys were worth $2,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SNPS. North Star Asset Management Inc. raised its stake in Synopsys by 3.6% during the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after purchasing an additional 2,082 shares during the period. SlateStone Wealth LLC raised its stake in Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after purchasing an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in Synopsys during the first quarter worth approximately $1,000,000. MBB Public Markets I LLC purchased a new position in Synopsys during the first quarter worth approximately $301,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Synopsys by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

SNPS opened at $425.45 on Monday. The company has a fifty day simple moving average of $590.39 and a 200 day simple moving average of $507.16. 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. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction 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 $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,031 shares of company stock valued at $13,168,999 in the last ninety days. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

SNPS has been the subject of several recent research reports. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday. Mizuho dropped their price objective on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday. Baird R W lowered shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 10th. Finally, Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a research report on Saturday. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $585.33.

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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