Synopsys, Inc. $SNPS Shares Sold by Dohj LLC

Key Points

• Dohj LLC decreased its stake in Synopsys, Inc. by 50.9%, now holding 2,080 shares valued at approximately $1,066,000.
• Corporate insiders, including CAO Sudhindra Kankanwadi and CEO Sassine Ghazi, have made significant sales, reducing their ownership by 32.48% and 13.70% respectively.
• Synopsys has faced multiple analyst downgrades, including moves from Citigroup and Baird R W, as its stock rating has shifted from "neutral" to "underperform" and "strong-buy" to "hold".

Dohj LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 50.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,080 shares of the semiconductor company's stock after selling 2,156 shares during the period. Dohj LLC's holdings in Synopsys were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SNPS. MCF Advisors LLC raised its holdings in Synopsys by 16.2% during the second quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company's stock worth $70,000 after purchasing an additional 19 shares in the last quarter. Trust Point Inc. grew its position in shares of Synopsys by 4.4% in the 2nd quarter. Trust Point Inc. now owns 494 shares of the semiconductor company's stock valued at $253,000 after buying an additional 21 shares during the last quarter. Whelan Financial raised its stake in Synopsys by 4.1% during the 2nd quarter. Whelan Financial now owns 534 shares of the semiconductor company's stock worth $274,000 after acquiring an additional 21 shares in the last quarter. Quent Capital LLC lifted its position in Synopsys by 1.8% in the second quarter. Quent Capital LLC now owns 1,204 shares of the semiconductor company's stock valued at $617,000 after acquiring an additional 21 shares during the last quarter. Finally, Hardy Reed LLC boosted its stake in Synopsys by 0.7% in the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares in the company, valued at approximately $10,278,468. This trade represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 approximately $42,181,951.15. This trade represents 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 30,894 shares of company stock worth $16,760,783 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 0.1%

NASDAQ:SNPS opened at $477.83 on Wednesday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. 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 stock's 50 day simple moving average is $553.70 and its 200-day simple moving average is $510.20. The firm has a market cap of $88.76 billion, a P/E ratio of 37.51, a PEG ratio of 5.27 and a beta of 1.10.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup downgraded Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Baird R W lowered Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. Wall Street Zen cut Synopsys from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Zacks Research lowered shares of Synopsys from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $535.00 target price (down from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Synopsys currently has an average rating of "Hold" and an average target price of $575.31.

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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