Synopsys, Inc. $SNPS Stock Position Raised by HBW Advisory Services LLC

Key Points

• HBW Advisory Services LLC significantly increased its stake in Synopsys, Inc. by 494.9%, holding 3,611 shares valued at approximately $1.85 million following their recent filing with the SEC.
• Insiders at Synopsys, including CRO Richard S. Mahoney and CFO Shelagh Glaser, have sold shares recently, with total insider sales amounting to $13.17 million over the last three months.
• Analysts have adjusted their price targets for Synopsys, with Morgan Stanley lowering their target from $715 to $510, reflecting mixed sentiments regarding the company's stock performance.

HBW Advisory Services LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 494.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,611 shares of the semiconductor company's stock after purchasing an additional 3,004 shares during the period. HBW Advisory Services LLC's holdings in Synopsys were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Brighton Jones LLC grew its holdings in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. NorthRock Partners LLC acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $640,000. ProShare Advisors LLC grew its holdings in shares of Synopsys by 18.1% during the 4th quarter. ProShare Advisors LLC now owns 208,271 shares of the semiconductor company's stock worth $101,086,000 after purchasing an additional 31,927 shares in the last quarter. Sig Brokerage LP acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $1,219,000. Finally, Shell Asset Management Co. boosted its stake in Synopsys by 74.2% in the 4th quarter. Shell Asset Management Co. now owns 2,552 shares of the semiconductor company's stock valued at $1,239,000 after buying an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the transaction, the chief financial officer directly owned 15,317 shares of the company's stock, valued at $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock valued at $13,168,999 over the last three months. Company insiders own 0.62% of the company's stock.

Synopsys Stock Down 2.9%

SNPS stock opened at $425.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 6.85. The stock has a market capitalization of $79.03 billion, a P/E ratio of 33.39, a P/E/G ratio of 3.32 and a beta of 1.14. The business has a 50-day moving average of $590.39 and a 200-day moving average of $506.54. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a research note on Thursday. Needham & Company LLC dropped their target price on Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their price objective on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their target price on Synopsys from $660.00 to $630.00 and set an "overweight" rating for the company in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $585.33.

Synopsys Company 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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