MBB Public Markets I LLC Makes New Investment in Synopsys, Inc. $SNPS

Key Points

• MBB Public Markets I LLC acquired a new stake in Synopsys, Inc. with an investment of approximately $301,000 for 701 shares in Q1.
• Synopsys stock saw a 13.0% increase in value, trading at $438.10, with a market cap of $67.98 billion.
• Multiple analysts have downgraded Synopsys' stock ratings and target prices, indicating a consensus rating of "Moderate Buy" from eleven analysts.

MBB Public Markets I LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 701 shares of the semiconductor company's stock, valued at approximately $301,000.

A number of other hedge funds also recently made changes to their positions in SNPS. Cornerstone Planning Group LLC lifted its position in shares of Synopsys by 275.0% in the first 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 during the last quarter. Saudi Central Bank acquired a new position in shares of Synopsys in the first quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the fourth quarter valued at $29,000. Finally, WPG Advisers LLC acquired a new position in shares of Synopsys in the first quarter valued at $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 13.0%

NASDAQ SNPS opened at $438.10 on Friday. The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a 50 day moving average of $592.81 and a 200-day moving average of $506.77. The company has a market cap of $67.98 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.55 and a beta of 1.14.

Wall Street Analyst Weigh In

SNPS has been the topic of several research reports. Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday. KeyCorp decreased their target price on Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday. Needham & Company LLC decreased their target price on Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday. Piper Sandler decreased their target price on Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $535.00 target price (down previously from $670.00) on shares of Synopsys in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $585.33.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. The trade was 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 24,031 shares of company stock worth $13,168,999. Corporate insiders own 0.62% of the company's stock.

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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