Redhawk Wealth Advisors Inc. Boosts Stock Position in Synopsys, Inc. $SNPS

Key Points

• Redhawk Wealth Advisors Inc. increased its stake in Synopsys, Inc. by 13.1%, owning a total of 7,069 shares valued at approximately $3.6 million as of their latest SEC filing.
• Several large investors, including HBW Advisory Services LLC and SlateStone Wealth LLC, significantly boosted their holdings in Synopsys, indicating growing institutional interest in the company.
• Analysts have lowered their target prices for Synopsys shares, with JPMorgan reducing its target from $685.00 to $600.00, but the stock maintains an average "Hold" rating with a target price of $585.33.

Redhawk Wealth Advisors Inc. lifted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,069 shares of the semiconductor company's stock after purchasing an additional 821 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Synopsys were worth $3,624,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. HBW Advisory Services LLC boosted its holdings 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 acquiring an additional 3,004 shares during the last quarter. North Star Asset Management Inc. boosted its holdings in Synopsys by 3.6% in the first 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 last quarter. SlateStone Wealth LLC boosted its holdings in Synopsys by 467.8% in the first 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 last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Synopsys during the 1st quarter worth about $1,000,000. Finally, Mattson Financial Services LLC purchased a new position in shares of Synopsys during the 1st quarter valued at about $1,410,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Trading Down 0.1%

Shares of SNPS stock opened at $425.40 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company's 50-day moving average price is $583.02 and its 200-day moving average price is $505.77. The stock has a market cap of $79.02 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 4.82 and a beta of 1.14.

Analyst Ratings Changes

Several analysts recently commented on SNPS shares. JPMorgan Chase & Co. dropped their target price on Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Mizuho cut their target price on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Needham & Company LLC lowered their price target on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. The Goldman Sachs Group cut their price objective on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Finally, Stifel Nicolaus lowered their target price on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Synopsys has an average rating of "Hold" and an average target price of $585.33.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert G. Painter acquired 350 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the acquisition, the director directly owned 2,291 shares of the company's stock, valued at $974,683.04. The trade was a 18.03% increase in their position. 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.

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