True North Advisors LLC Has $235,000 Stock Position in Synopsys, Inc. $SNPS

Key Points

• True North Advisors LLC significantly reduced its stock position in Synopsys, Inc. by 52.9% during the second quarter, leaving them with 458 shares valued at $235,000.
• Several institutional investors increased their holdings in Synopsys, with Perigon Wealth Management growing its position by 32.8%, now owning shares worth over $1 million.
• Industry analysts have cut their price targets for Synopsys, ranging from $510 to $550, while 11 analysts still maintain a "Buy" rating on the stock.

True North Advisors LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 52.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 458 shares of the semiconductor company's stock after selling 514 shares during the period. True North Advisors LLC's holdings in Synopsys were worth $235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC grew its holdings in shares of Synopsys by 32.8% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,132 shares of the semiconductor company's stock valued at $1,093,000 after buying an additional 527 shares during the period. Pitti Group Wealth Management LLC lifted its position in Synopsys by 7.0% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 535 shares of the semiconductor company's stock valued at $274,000 after acquiring an additional 35 shares in the last quarter. Norden Group LLC lifted its position in Synopsys by 39.3% in the 2nd quarter. Norden Group LLC now owns 2,426 shares of the semiconductor company's stock valued at $1,244,000 after acquiring an additional 684 shares in the last quarter. DB Fitzpatrick & Co Inc lifted its position in Synopsys by 2.6% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 2,655 shares of the semiconductor company's stock valued at $1,361,000 after acquiring an additional 68 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its position in Synopsys by 9.1% in the 2nd quarter. Accurate Wealth Management LLC now owns 1,348 shares of the semiconductor company's stock valued at $763,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 0.1%

Shares of NASDAQ:SNPS opened at $487.76 on Friday. The company's 50-day moving average price is $571.71 and its two-hundred day moving average price is $508.05. 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 one year low of $365.74 and a one year high of $651.73. The stock has a market capitalization of $90.60 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 5.50 and a beta of 1.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Morgan Stanley cut their price objective on shares of Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a research report on Thursday, September 11th. Citigroup cut shares of Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday, September 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $535.00 price objective (down from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $525.00 price objective (down from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Synopsys currently has an average rating of "Hold" and an average target price of $585.33.

Insider Buying and Selling at Synopsys

In other news, Director Robert G. Painter bought 350 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were bought at an average cost of $425.44 per share, with a total value of $148,904.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,228,709.35. Following the completion of the sale, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,894 shares of company stock valued at $16,760,783. Corporate insiders own 0.62% of the company's stock.

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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