Synopsys, Inc. $SNPS Shares Purchased by Resources Management Corp CT ADV

Key Points

• Resources Management Corp CT ADV increased its stake in Synopsys, Inc. by 46.6% during the 1st quarter, reaching a total of 2,608 shares valued at approximately $1.1 million.
• A number of analysts project growth for Synopsys, with target prices ranging from $625 to $715, indicating strong confidence in the stock as 12 analysts rate it as a Buy.
• Recent insider selling has occurred, with notable transactions including CRO Richard S. Mahoney selling 9,010 shares and CEO Sassine Ghazi selling 11,366 shares, reflecting a decrease in their ownership stakes.

Resources Management Corp CT ADV increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 46.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,608 shares of the semiconductor company's stock after acquiring an additional 829 shares during the quarter. Resources Management Corp CT ADV's holdings in Synopsys were worth $1,118,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the fourth quarter worth $29,000. Cornerstone Planning Group LLC grew its stake in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank purchased a new position in Synopsys during the 1st quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd increased its position in Synopsys by 441.7% during the 1st 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 in the last quarter. Finally, WPG Advisers LLC purchased a new stake in Synopsys in the first quarter valued at about $34,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Synopsys stock traded down $216.59 during mid-day trading on Wednesday, hitting $387.78. The company had a trading volume of 21,110,824 shares, compared to its average volume of 1,523,189. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 4.00 and a beta of 1.14. The company's fifty day moving average is $597.69 and its 200-day moving average is $507.82. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

Analyst Ratings Changes

Several research firms have recently issued reports on SNPS. Stifel Nicolaus cut their price objective on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday. Piper Sandler decreased their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a report on Wednesday. Citigroup lowered shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday. Robert W. Baird reissued a "neutral" rating and issued a $535.00 target price (down from $670.00) on shares of Synopsys in a research report on Wednesday. Finally, Bank of America reaffirmed an "underperform" rating and set a $525.00 price target (down previously from $625.00) on shares of Synopsys in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $599.00.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the transaction, the chief financial officer owned 15,317 shares in the company, valued at approximately $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,031 shares of company stock worth $13,168,999. Company insiders own 0.62% of the company's stock.

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.