Synopsys, Inc. $SNPS Shares Sold by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA reduced its stake in Synopsys, Inc. by 56.2%, selling 159,155 shares and retaining 124,062 shares, thereby lowering its holding in Synopsys to approximately $49.17 million.
• Several large investors, including Alliancebernstein L.P. and Generation Investment Management LLP, have increased their stakes in Synopsys, with 85.47% of the stock currently owned by institutional investors.
• Wall Street analysts have issued positive ratings for Synopsys, with price targets ranging from $610.00 to $715.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $634.64.

Banque Transatlantique SA trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 56.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,062 shares of the semiconductor company's stock after selling 159,155 shares during the period. Synopsys accounts for approximately 0.9% of Banque Transatlantique SA's holdings, making the stock its 22nd largest position. Banque Transatlantique SA owned about 0.08% of Synopsys worth $49,167,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted 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 valued at $25,000 after purchasing an additional 44 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Synopsys during the first quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after buying an additional 53 shares during the period. Ameriflex Group Inc. purchased a new position in Synopsys during the fourth quarter valued at approximately $29,000. Finally, WPG Advisers LLC acquired a new stake in Synopsys in the first quarter valued at approximately $34,000. Institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SNPS shares. Piper Sandler lifted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. KeyCorp boosted their price target on shares of Synopsys from $610.00 to $660.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Finally, Bank of America increased their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $638.21.

Synopsys Trading Down 0.6%

Shares of Synopsys stock traded down $3.82 during mid-day trading on Friday, hitting $598.14. 1,388,613 shares of the stock were exchanged, compared to its average volume of 973,467. The company has a 50-day simple moving average of $594.11 and a 200 day simple moving average of $506.12. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The stock has a market capitalization of $92.81 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on 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 sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

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.