Synopsys, Inc. $SNPS Stock Position Reduced by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its position in Synopsys, Inc. by 50% during the second quarter, holding 28,275 shares valued at approximately $14.5 million.
• CEO Sassine Ghazi and CFO Shelagh Glaser both sold significant shares of Synopsys stock recently, resulting in a decrease of 13.7% and 19.27% in their respective positions.
• Multiple analysts have downgraded Synopsys' stock, with ratings ranging from “buy” to “underperform,” reflecting a shift in investor sentiment and targets lowered by firms such as Stifel Nicolaus and Citigroup.

Janney Montgomery Scott LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,275 shares of the semiconductor company's stock after selling 28,239 shares during the quarter. Janney Montgomery Scott LLC's holdings in Synopsys were worth $14,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Invesco LLC boosted its holdings in Synopsys by 8.0% in the second quarter. Invesco LLC now owns 2,718 shares of the semiconductor company's stock worth $1,393,000 after purchasing an additional 201 shares during the period. Moss Adams Wealth Advisors LLC acquired a new position in shares of Synopsys in the 2nd quarter valued at about $388,000. GC Wealth Management RIA LLC bought a new stake in shares of Synopsys during the 2nd quarter valued at about $6,753,000. V Square Quantitative Management LLC raised its stake in Synopsys by 14.6% during the second quarter. V Square Quantitative Management LLC now owns 3,574 shares of the semiconductor company's stock worth $1,832,000 after acquiring an additional 456 shares during the period. Finally, Investment Advisory Services Inc. TX ADV acquired a new stake in Synopsys during the second quarter worth about $233,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on Synopsys from $650.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Citigroup downgraded Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. BNP Paribas initiated coverage on Synopsys in a research note on Thursday. They set an "underperform" rating and a $425.00 price objective for the company. Piper Sandler dropped their target price on Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group cut their target price on Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Eleven 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $575.31.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 3,655 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 15,317 shares of the company's stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,894 shares of company stock worth $16,760,783. 0.62% of the stock is owned by corporate insiders.

Synopsys Trading Down 0.4%

NASDAQ:SNPS opened at $469.17 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The stock's 50-day moving average is $559.15 and its two-hundred day moving average is $509.40. The stock has a market cap of $87.15 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 5.19 and a beta of 1.10.

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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