Napean Trading & Investment Co Singapore PTE Ltd Decreases Stake in Synopsys, Inc. $SNPS

Key Points

• Napean Trading & Investment Co Singapore PTE Ltd reduced its holdings in Synopsys, Inc. by 34.4%, selling 10,548 shares and retaining 20,139 shares valued at approximately $8.64 million.
• Institutional investors hold 85.47% of Synopsys stock, with other notable hedge funds significantly increasing their stakes during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Synopsys, with target prices ranging up to $715.00, reflecting confidence in the company's growth potential.

Napean Trading & Investment Co Singapore PTE Ltd cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,139 shares of the semiconductor company's stock after selling 10,548 shares during the period. Synopsys comprises about 2.5% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 14th largest position. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Synopsys were worth $8,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SNPS. GAMMA Investing LLC grew its holdings in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Nuveen LLC bought a new position in shares of Synopsys in the first quarter worth about $341,480,000. Pictet Asset Management Holding SA grew its holdings in shares of Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Generation Investment Management LLP bought a new position in shares of Synopsys in the first quarter worth about $240,491,000. Finally, Vanguard Group Inc. grew its holdings in shares of Synopsys by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after purchasing an additional 346,994 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated 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 sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $715.00 price objective (up from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Bank of America upped their price objective on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reiterated a "positive" rating on shares of Synopsys in a research note on Wednesday, August 27th. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $638.21.

Synopsys Stock Down 0.6%

Shares of NASDAQ:SNPS traded down $3.82 during trading on Friday, reaching $598.14. The stock had a trading volume of 1,388,613 shares, compared to its average volume of 1,007,890. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company has a market capitalization of $92.81 billion, a P/E ratio of 43.19, a PEG ratio of 3.93 and a beta of 1.14. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The firm's 50-day simple moving average is $594.11 and its 200 day simple moving average is $506.20.

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.