Moss Adams Wealth Advisors LLC Takes Position in Synopsys, Inc. $SNPS

Key Points

• Moss Adams Wealth Advisors LLC has taken a new position in Synopsys, Inc., acquiring 757 shares valued at approximately $388,000.
• Multiple hedge funds have increased their stakes in Synopsys, with HBW Advisory Services LLC boosting its position by nearly 495% during the second quarter.
• Synopsys shares are currently trading down 1.3%, with a market capitalization of $89.46 billion and a consensus rating of "Hold" from analysts.

Moss Adams Wealth Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 757 shares of the semiconductor company's stock, valued at approximately $388,000.

Other hedge funds have also made changes to their positions in the company. HBW Advisory Services LLC boosted its position in shares of Synopsys by 494.9% in the 2nd quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company's stock valued at $1,851,000 after purchasing an additional 3,004 shares during the period. Westbourne Investments Inc. acquired a new stake in shares of Synopsys in the 2nd quarter valued at about $1,505,000. North Star Asset Management Inc. boosted its position in shares of Synopsys by 3.6% in the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after purchasing an additional 2,082 shares during the period. SlateStone Wealth LLC boosted its position in shares of Synopsys by 467.8% in the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after purchasing an additional 8,420 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its position in shares of Synopsys by 13.1% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 7,069 shares of the semiconductor company's stock valued at $3,624,000 after purchasing an additional 821 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 1.3%

SNPS opened at $481.61 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The business has a 50 day simple moving average of $569.52 and a 200-day simple moving average of $509.38. The stock has a market capitalization of $89.46 billion, a P/E ratio of 37.80, a P/E/G ratio of 5.51 and a beta of 1.14. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Baird R W cut Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. decreased their price objective on Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. KeyCorp decreased their price objective on Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley decreased their price objective on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $585.33.

Insiders Place Their Bets

In other news, CFO Shelagh Glaser sold 3,655 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert G. Painter purchased 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 30,894 shares of company stock valued at $16,760,783 over the last 90 days. 0.62% of the stock is owned by corporate 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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