Analog Century Management LP Decreases Stock Holdings in Synopsys, Inc. $SNPS

Key Points

• Analog Century Management LP reduced its stake in Synopsys, Inc. by 4.8%, now holding 156,842 shares valued at approximately $67.26 million, making it the fifth largest position in its portfolio.
• CEO Sassine Ghazi and CFO Shelagh Glaser sold significant shares of the company, resulting in a combined ownership decrease of over 13% for Ghazi and 32% for Glaser post-sale.
• Synopsys reported a 10.3% increase in quarterly revenue year-over-year, with earnings per share at $3.67, exceeding analysts' expectations, and analysts maintain a consensus rating of "Moderate Buy" with a target price of $634.64.

Analog Century Management LP decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,842 shares of the semiconductor company's stock after selling 7,967 shares during the quarter. Synopsys makes up approximately 5.4% of Analog Century Management LP's holdings, making the stock its 5th biggest holding. Analog Century Management LP owned 0.10% of Synopsys worth $67,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC raised its stake in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 53 shares during the period. Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter worth about $29,000. WPG Advisers LLC acquired a new stake in Synopsys during the first quarter worth about $34,000. Finally, Cloud Capital Management LLC acquired a new stake in Synopsys during the first quarter worth about $36,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $11.51 on Tuesday, hitting $592.01. 1,387,966 shares of the company were exchanged, compared to its average volume of 1,407,516. The company's 50 day moving average price is $585.72 and its two-hundred day moving average price is $503.81. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm has a market capitalization of $91.86 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 3.97 and a beta of 1.14.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNPS. Rosenblatt Securities raised their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Bank of America raised their price target on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reiterated a "positive" rating on shares of Synopsys in a report on Wednesday, August 27th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $634.64.

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.