Synopsys, Inc. $SNPS Shares Acquired by Cullen Investment Group LTD.

Key Points

• Cullen Investment Group LTD. increased its stake in Synopsys, Inc. by 92.9%, now owning 3,233 shares worth approximately $1.66 million.
• Several analysts downgraded their ratings on Synopsys, with Wells Fargo reducing its price target from $630.00 to $550.00, indicating a cautious outlook for the semiconductor company.
• Insider activity revealed significant stock sales, with CFO Shelagh Glaser selling 3,655 shares and CRO Richard S. Mahoney selling 9,010 shares, reflecting changes in executive confidence.

Cullen Investment Group LTD. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 92.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,233 shares of the semiconductor company's stock after buying an additional 1,557 shares during the period. Cullen Investment Group LTD.'s holdings in Synopsys were worth $1,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth $29,000. Cornerstone Planning Group LLC increased 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 worth $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Synopsys during the 1st quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Synopsys during the 1st quarter worth $34,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ:SNPS opened at $425.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 6.85. The firm has a 50-day moving average of $590.39 and a two-hundred day moving average of $506.54. The stock has a market cap of $79.03 billion, a P/E ratio of 33.39, a PEG ratio of 3.32 and a beta of 1.14. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73.

Analyst Ratings Changes

A number of analysts have recently commented on SNPS shares. Wells Fargo & Company dropped their price objective on Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a report on Wednesday. Wall Street Zen cut shares of Synopsys from a "hold" rating to a "sell" rating in a research report on Saturday. Robert W. Baird reaffirmed a "neutral" rating and set a $535.00 price target (down from $670.00) on shares of Synopsys in a research report on Wednesday. Citigroup cut shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $605.00 price target (down from $650.00) on shares of Synopsys in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $585.33.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction dated Friday, September 5th. The shares were 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 of the company's stock, valued at $9,339,847.09. This represents a 19.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,031 shares of company stock valued at $13,168,999 in the last ninety days. 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.

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