Security National Bank Acquires 852 Shares of Synopsys, Inc. $SNPS

Key Points

• Security National Bank increased its stake in Synopsys, Inc. by 8.5% during the second quarter, holding a total of 10,912 shares valued at approximately $5.6 million.
• Analysts have mixed ratings on Synopsys, with recent downgrades resulting in price objectives reduced by firms such as Bank of America and Citigroup, illustrating cautious sentiment in the market.
• Despite recent changes in stock ratings, Synopsys has a strong institutional ownership, with 85.47% of its stock held by hedge funds and institutional investors.

Security National Bank raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,912 shares of the semiconductor company's stock after acquiring an additional 852 shares during the quarter. Synopsys accounts for about 1.0% of Security National Bank's investment portfolio, making the stock its 27th largest holding. Security National Bank's holdings in Synopsys were worth $5,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after purchasing an additional 50 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Synopsys during the fourth quarter valued at about $8,453,000. Waverly Advisors LLC grew its holdings in Synopsys by 447.6% during the fourth quarter. Waverly Advisors LLC now owns 4,310 shares of the semiconductor company's stock worth $2,092,000 after acquiring an additional 3,523 shares during the period. Continuum Advisory LLC grew its holdings in Synopsys by 2.4% during the fourth quarter. Continuum Advisory LLC now owns 1,068 shares of the semiconductor company's stock worth $518,000 after acquiring an additional 25 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its holdings in Synopsys by 44.4% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 755 shares of the semiconductor company's stock worth $366,000 after acquiring an additional 232 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SNPS shares. The Goldman Sachs Group dropped their price target on Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Mizuho dropped their price target on Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Zacks Research cut Synopsys from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. Wells Fargo & Company lowered their target price on Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 10th. Finally, JPMorgan Chase & Co. lowered their target price on Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $585.33.

Synopsys Stock Up 3.6%

Shares of NASDAQ SNPS traded up $17.76 during mid-day trading on Monday, reaching $513.26. 3,816,836 shares of the company's stock were exchanged, compared to its average volume of 1,737,054. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $580.02 and a 200 day simple moving average of $507.20. The firm has a market capitalization of $95.34 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 5.60 and a beta of 1.14. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was 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 directly 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 through this link. Also, Director Robert G. Painter purchased 350 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was bought at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Company Profile

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.