Tealwood Asset Management Inc. Takes $1.78 Million Position in Synopsys, Inc. $SNPS

Key Points

• Tealwood Asset Management Inc. has established a new position in Synopsys, Inc., purchasing 3,477 shares worth approximately $1.78 million.
• Several other large investors, including Brighton Jones LLC and NBC Securities Inc., have also adjusted their stakes in Synopsys, with institutional investors collectively owning 85.47% of the stock.
• Analysts have recently revised their price targets for Synopsys, with Morgan Stanley lowering their target from $715 to $510, amidst a mix of Buy, Hold, and Sell ratings from other firms.

Tealwood Asset Management Inc. bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,477 shares of the semiconductor company's stock, valued at approximately $1,783,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 50 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Synopsys by 9.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,472 shares of the semiconductor company's stock valued at $631,000 after purchasing an additional 132 shares during the period. Rhumbline Advisers boosted its position in shares of Synopsys by 3.0% in the 1st quarter. Rhumbline Advisers now owns 299,628 shares of the semiconductor company's stock valued at $128,495,000 after purchasing an additional 8,601 shares during the period. Czech National Bank boosted its position in shares of Synopsys by 6.6% in the 1st quarter. Czech National Bank now owns 35,504 shares of the semiconductor company's stock valued at $15,226,000 after purchasing an additional 2,197 shares during the period. Finally, NBC Securities Inc. boosted its holdings in shares of Synopsys by 120,800.0% in the first quarter. NBC Securities Inc. now owns 3,627 shares of the semiconductor company's stock worth $1,555,000 after buying an additional 3,624 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 1.3%

Shares of NASDAQ:SNPS opened at $481.61 on Tuesday. The firm has a market capitalization of $89.46 billion, a P/E ratio of 37.80, a price-to-earnings-growth ratio of 5.51 and a beta of 1.14. 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 fifty day moving average of $569.52 and a two-hundred day moving average of $509.38.

Insider Buying and Selling at Synopsys

In other Synopsys news, 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 completion of the sale, the chief accounting officer owned 20,520 shares of the company's stock, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert G. Painter acquired 350 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares in the company, valued at $974,683.04. This trade represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 30,894 shares of company stock valued at $16,760,783. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a research note on Thursday, September 11th. Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. decreased their target price on Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a research report on Wednesday, September 10th. The Goldman Sachs Group decreased their target price on Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Finally, Mizuho decreased their price objective on Synopsys from $700.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $585.33.

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.

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