NBC Securities Inc. Sells 1,120 Shares of Synopsys, Inc. $SNPS

Key Points

• NBC Securities Inc. reduced its stake in Synopsys, Inc. by 30.9%, selling 1,120 shares and leaving them with 2,507 shares valued at approximately $1.29 million.
• In recent analyst reports, Synopsys received mixed ratings with several price target adjustments, including a decrease from $700 to $600 by Goldman Sachs, and 11 analysts rating the stock as "Buy."
• Insider transactions included CFO Shelagh Glaser selling 3,655 shares for over $2.2 million, reflecting a 19.27% reduction in her ownership, while Director Robert G. Painter increased his stake by purchasing 350 shares.

NBC Securities Inc. trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 30.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,507 shares of the semiconductor company's stock after selling 1,120 shares during the period. NBC Securities Inc.'s holdings in Synopsys were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Synopsys by 159.3% during the fourth quarter. Tidal Investments LLC now owns 19,187 shares of the semiconductor company's stock valued at $9,313,000 after purchasing an additional 11,788 shares in the last quarter. Woodline Partners LP bought a new position in shares of Synopsys during the fourth quarter valued at about $8,453,000. Williams Jones Wealth Management LLC. lifted its position in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares in the last quarter. Finally, Whelan Financial bought a new position in shares of Synopsys during the fourth quarter valued at about $292,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Baird R W lowered shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. The Goldman Sachs Group dropped their price target on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday, September 10th. Finally, Mizuho lowered their price objective on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $585.33.

Synopsys Stock Performance

Shares of SNPS stock opened at $425.97 on Wednesday. The firm has a market cap of $79.12 billion, a price-to-earnings ratio of 33.44, a P/E/G ratio of 5.49 and a beta of 1.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The firm's 50-day simple moving average is $585.53 and its two-hundred day simple moving average is $506.33.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction dated 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 owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert G. Painter bought 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, with a total value of $148,904.00. Following the purchase, the director directly owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.