Synopsys, Inc. $SNPS Shares Sold by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC significantly reduced its holdings in Synopsys, Inc. by 79.3%, selling 3,424 shares and leaving them with 893 shares valued at approximately $383,000.
• CEO Sassine Ghazi and CFO Shelagh Glaser both sold portions of their holdings, with Ghazi selling 11,366 shares and Glaser selling 3,655 shares, indicating notable insider trading activity.
• Wall Street analysts have diverse outlooks for Synopsys, with recent downgrades and price target reductions, but the average rating remains a "Moderate Buy" with a price target of $585.33.

Belpointe Asset Management LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 79.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 893 shares of the semiconductor company's stock after selling 3,424 shares during the period. Belpointe Asset Management LLC's holdings in Synopsys were worth $383,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth grew its holdings in shares of Synopsys by 1.1% during the first quarter. Focus Partners Wealth now owns 37,922 shares of the semiconductor company's stock valued at $16,263,000 after purchasing an additional 405 shares during the last quarter. Capital Impact Advisors LLC bought a new position in Synopsys during the 1st quarter worth $8,906,000. Anchor Investment Management LLC increased its position in Synopsys by 7.1% in the first quarter. Anchor Investment Management LLC now owns 4,235 shares of the semiconductor company's stock worth $1,816,000 after buying an additional 279 shares during the period. Glenview Trust co lifted its stake in Synopsys by 7.3% in the first quarter. Glenview Trust co now owns 500 shares of the semiconductor company's stock valued at $214,000 after buying an additional 34 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Synopsys during the first quarter worth about $816,000. Institutional investors own 85.47% of the company's stock.

Synopsys Trading Down 2.9%

NASDAQ:SNPS opened at $425.45 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. The company has a market capitalization of $79.03 billion, a P/E ratio of 33.39, a P/E/G ratio of 5.60 and a beta of 1.14. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The stock's 50 day moving average price is $590.39 and its 200 day moving average price is $507.16.

Insider Buying and Selling at Synopsys

In other Synopsys news, 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 transaction, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the transaction, the chief financial officer directly owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. This represents a 19.27% decrease in their position. 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 three months. Corporate insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNPS shares. Baird R W downgraded Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Mizuho reduced their price target on Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday. Stifel Nicolaus lowered their price target on Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. JPMorgan Chase & Co. reduced their price objective on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a report on Wednesday, September 10th. Finally, Morgan Stanley lowered their target price on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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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