TD Private Client Wealth LLC Cuts Holdings in Synopsys, Inc. $SNPS

Key Points

• TD Private Client Wealth LLC reduced its holdings in Synopsys, Inc. by 36.8%, leaving them with 1,482 shares valued at $760,000.
• Multiple hedge funds have also adjusted their positions, with Cornerstone Planning Group LLC boosting its stake by 275.0% during the first quarter.
• Analyst ratings for Synopsys have varied, with target prices being lowered by several firms; the average target price now stands at $585.33, indicating mixed sentiment among analysts.

TD Private Client Wealth LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 36.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,482 shares of the semiconductor company's stock after selling 862 shares during the quarter. TD Private Client Wealth LLC's holdings in Synopsys were worth $760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Saudi Central Bank purchased a new position in Synopsys during the first quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd boosted 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 worth $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Synopsys during the fourth quarter worth about $29,000. Finally, WPG Advisers LLC purchased a new position in Synopsys during the first quarter worth about $34,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ SNPS opened at $487.76 on Friday. The company's 50 day moving average is $571.71 and its 200-day moving average is $508.05. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a market cap of $90.60 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of 5.50 and a beta of 1.14.

Analyst Ratings Changes

A number of research firms have weighed in on SNPS. Robert W. Baird reiterated a "neutral" rating and issued a $535.00 target price (down from $670.00) on shares of Synopsys in a research note on Wednesday, September 10th. Mizuho dropped their target price on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company dropped their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 10th. Piper Sandler dropped their target price on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Finally, KeyCorp dropped their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $585.33.

Insider Buying and Selling at Synopsys

In other news, 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 sale, the chief financial officer owned 15,317 shares of the company's stock, valued at $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the sale, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,894 shares of company stock worth $16,760,783. 0.62% of the stock is currently owned by company insiders.

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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