Synopsys, Inc. $SNPS Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA reduced its stake in Synopsys, Inc. by 10.8%, owning 7,840 shares worth $4,019,000 after selling 950 shares in the second quarter.
• Several large investors have modified their positions, with notable increases in holdings by Cornerstone Planning Group LLC and Clal Insurance Enterprises Holdings Ltd, highlighting active institutional interest in the stock.
• Insider trading activity includes CAO Sudhindra Kankanwadi selling 9,873 shares worth approximately $4.9 million, and Director Robert G. Painter purchasing 350 shares valued at around $148,904.

Banque Pictet & Cie SA lowered its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,840 shares of the semiconductor company's stock after selling 950 shares during the period. Banque Pictet & Cie SA's holdings in Synopsys were worth $4,019,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the fourth quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in shares of 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 acquiring an additional 44 shares during the period. Saudi Central Bank acquired a new position in shares of Synopsys in the first quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd raised its position 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 purchasing an additional 53 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Synopsys during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In related news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares of the company's stock, valued at approximately $10,278,468. This represents a 32.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert G. Painter acquired 350 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of $425.44 per share, with a total value of $148,904.00. Following the purchase, the director owned 2,291 shares in the company, valued at $974,683.04. This represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 30,894 shares of company stock worth $16,760,783 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Up 0.1%

Shares of NASDAQ SNPS opened at $487.76 on Friday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The stock has a market cap of $90.60 billion, a PE ratio of 38.29, a P/E/G ratio of 5.50 and a beta of 1.14. 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 company has a 50-day moving average of $571.71 and a 200 day moving average of $508.05.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Needham & Company LLC reduced their price target on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Piper Sandler reduced their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. Morgan Stanley reduced their price target on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research report on Thursday, September 11th. Stifel Nicolaus reduced their price target on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Finally, Mizuho reduced their price target on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of "Hold" and a consensus target price of $585.33.

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.

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