Synopsys, Inc. $SNPS Position Trimmed by Quintet Private Bank Europe S.A.

Key Points

• Quintet Private Bank Europe S.A. reduced its stake in Synopsys, Inc. by 5.2%, selling nearly 4,000 shares, making Synopsys the 10th largest position in their portfolio.
• Synopsys stock has experienced a 2.9% decline recently, trading at $425.45, with a market cap of $79.03 billion and significant changes noted in its stock price targets by various analysts.
• Insider selling has been observed, with the CFO and CEO selling a combined total of 15,021 shares, indicating reduced ownership percentages of 19.27% and 13.70%, respectively.

Quintet Private Bank Europe S.A. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,719 shares of the semiconductor company's stock after selling 3,958 shares during the quarter. Synopsys comprises 2.1% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 10th largest position. Quintet Private Bank Europe S.A.'s holdings in Synopsys were worth $36,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Synopsys in the fourth quarter worth about $29,000. Cornerstone Planning Group LLC grew its holdings in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the period. Saudi Central Bank purchased a new stake in Synopsys in the first quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd grew 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 period. Finally, WPG Advisers LLC purchased a new stake in Synopsys in the first quarter worth about $34,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 2.9%

Shares of Synopsys stock opened at $425.45 on Monday. The company has a market cap of $79.03 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14. The company's 50 day moving average is $590.39 and its 200 day moving average is $507.16. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 24,031 shares of company stock worth $13,168,999 over the last quarter. Company insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNPS shares. Morgan Stanley cut their price target on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a report on Thursday. Piper Sandler cut their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Needham & Company LLC cut 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. Rosenblatt Securities reiterated a "neutral" rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, Mizuho cut their price target on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $585.33.

Synopsys 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.

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