SCS Capital Management LLC Purchases New Shares in Synopsys, Inc. $SNPS

Key Points

• SCS Capital Management LLC has acquired a new position in Synopsys, Inc. worth approximately $816,000, purchasing 1,902 shares in the first quarter.
• Insider transactions saw CEO Sassine Ghazi sell 11,366 shares and CFO Shelagh Glaser sell 3,655 shares, marking a significant decrease in their ownership stakes.
• Analysts have varied opinions on Synopsys, with price targets ranging from $525 to $715, reflecting a general average recommendation of a "Moderate Buy."

SCS Capital Management LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,902 shares of the semiconductor company's stock, valued at approximately $816,000.

A number of other hedge funds have also bought and sold shares of the business. Cornerstone Planning Group LLC boosted its holdings in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Saudi Central Bank bought a new position in Synopsys during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Synopsys in the 4th quarter worth approximately $29,000. Finally, WPG Advisers LLC purchased a new stake in Synopsys during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

Shares of SNPS stock traded down $12.65 on Friday, hitting $425.45. 6,682,955 shares of the stock traded hands, compared to its average volume of 2,823,175. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 6.85. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The firm has a 50 day simple moving average of $590.39 and a two-hundred day simple moving average of $506.54. The firm has a market cap of $79.03 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.32 and a beta of 1.14.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SNPS shares. Wall Street Zen downgraded Synopsys from a "hold" rating to a "sell" rating in a research note on Saturday. Bank of America reissued an "underperform" rating and issued a $525.00 target price (down from $625.00) on shares of Synopsys in a research report on Wednesday. Stifel Nicolaus cut their price target on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC lowered their price objective on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $585.33.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,031 shares of company stock valued at $13,168,999 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

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.