Synopsys, Inc. $SNPS Holdings Boosted by Sender Co & Partners Inc.

Key Points

• Sender Co & Partners Inc. raised its holdings in Synopsys, Inc. by 72.5%, owning 11,730 shares valued at approximately $5.03 million, making it the 9th largest position in their portfolio.
• Several institutional investors, including Cornerstone Planning Group LLC and Clal Insurance Enterprises Holdings Ltd, significantly increased their stakes in Synopsys during the first quarter, indicating strong institutional interest.
• Analysts maintain a consensus rating of "Moderate Buy" for Synopsys, with an average price target of $638.21, reflecting positive expectations for the company's stock performance.

Sender Co & Partners Inc. lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 72.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,730 shares of the semiconductor company's stock after buying an additional 4,929 shares during the period. Synopsys makes up about 2.6% of Sender Co & Partners Inc.'s investment portfolio, making the stock its 9th largest holding. Sender Co & Partners Inc.'s holdings in Synopsys were worth $5,030,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. North Star Asset Management Inc. boosted its position in Synopsys by 3.6% during the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 2,082 shares during the period. SlateStone Wealth LLC increased its holdings in shares of Synopsys by 467.8% during 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 period. Dynamic Advisor Solutions LLC bought a new stake in shares of Synopsys during the first quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Synopsys in the 1st quarter valued at about $3,116,000. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

Synopsys stock traded down $216.59 during mid-day trading on Wednesday, hitting $387.78. The company's stock had a trading volume of 21,110,824 shares, compared to its average volume of 1,099,943. The stock has a market capitalization of $60.17 billion, a P/E ratio of 62.96, a P/E/G ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The stock's fifty day moving average price is $597.69 and its two-hundred day moving average price is $507.82. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction 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 owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 completion of the transaction, the executive directly owned 1,485 shares in the company, 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 24,031 shares of company stock worth $13,168,999 in the last three months. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research report on Wednesday. KeyCorp lowered their price objective on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research note on Wednesday. Stifel Nicolaus cut their target price on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. Citigroup lowered Synopsys from a "neutral" rating to an "underperform" rating in a research note on Wednesday. Finally, Robert W. Baird reissued a "neutral" rating and issued a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $599.00.

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.