SeaTown Holdings Pte. Ltd. Has $10.69 Million Holdings in Synopsys, Inc. $SNPS

Key Points

• SeaTown Holdings Pte. Ltd. increased its holdings in Synopsys, Inc. by 46.3% in Q2, now owning 20,850 shares valued at approximately $10.69 million.
• Notable hedge fund activity included Capital Advisors Inc. acquiring a new position worth $228,000 and Merit Financial Group LLC growing its position by 15.1% during the same quarter.
• Analyst ratings have varied, with Morgan Stanley and Needham & Company lowering their target prices; currently, Synopsys has an average rating of "Hold" and a target price of $575.31.

SeaTown Holdings Pte. Ltd. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,850 shares of the semiconductor company's stock after buying an additional 6,600 shares during the period. Synopsys makes up about 6.3% of SeaTown Holdings Pte. Ltd.'s investment portfolio, making the stock its 5th largest position. SeaTown Holdings Pte. Ltd.'s holdings in Synopsys were worth $10,689,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Capital Advisors Inc. OK bought a new position in Synopsys during the second quarter worth $228,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Synopsys in the 2nd quarter worth $1,671,000. Merit Financial Group LLC grew its position in Synopsys by 15.1% in the 2nd quarter. Merit Financial Group LLC now owns 19,068 shares of the semiconductor company's stock worth $9,776,000 after purchasing an additional 2,495 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Synopsys during the 2nd quarter worth about $312,000. Finally, Bay Harbor Wealth Management LLC raised its position in shares of Synopsys by 10,050.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 203 shares of the semiconductor company's stock valued at $104,000 after buying an additional 201 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a research report on Thursday, September 11th. Needham & Company LLC decreased their price objective on Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Piper Sandler decreased their price objective on Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Bank of America restated an "underperform" rating and issued a $525.00 target price (down from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. Finally, Zacks Research cut Synopsys from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $575.31.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert G. Painter acquired 350 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the acquisition, the director owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 30,894 shares of company stock worth $16,760,783. Company insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Synopsys stock opened at $478.22 on Tuesday. The firm has a market capitalization of $88.83 billion, a P/E ratio of 37.54, a P/E/G ratio of 5.17 and a beta of 1.10. The stock has a fifty day moving average price of $556.86 and a two-hundred day moving average price of $510.43. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51.

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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