Union Bancaire Privee UBP SA Cuts Stake in Synopsys, Inc. $SNPS

Key Points

• Union Bancaire Privee UBP SA has reduced its stake in Synopsys, Inc. by 20.7%, owning 5,547 shares valued at approximately $2.59 million as of the last reporting period.
• Several institutional investors have increased their holdings in Synopsys, including Raleigh Capital Management Inc., which boosted their stake by 391.3%, and Invesco LLC, which increased its position by 8.0%.
• Analysts' ratings for Synopsys have varied, with Zacks Research downgrading the stock from a "hold" to a "strong sell," while JPMorgan has lowered its price target from $685 to $600, signaling a cautious outlook.

Union Bancaire Privee UBP SA trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,547 shares of the semiconductor company's stock after selling 1,444 shares during the period. Union Bancaire Privee UBP SA's holdings in Synopsys were worth $2,587,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tealwood Asset Management Inc. purchased a new stake in Synopsys during the second quarter valued at about $1,783,000. Raleigh Capital Management Inc. boosted its holdings in Synopsys by 391.3% during the 2nd quarter. Raleigh Capital Management Inc. now owns 963 shares of the semiconductor company's stock valued at $494,000 after acquiring an additional 767 shares during the period. Asio Capital LLC boosted its holdings in Synopsys by 7.2% during the 2nd quarter. Asio Capital LLC now owns 6,100 shares of the semiconductor company's stock valued at $3,127,000 after acquiring an additional 411 shares during the period. HB Wealth Management LLC boosted its stake in shares of Synopsys by 1.7% during the second quarter. HB Wealth Management LLC now owns 3,393 shares of the semiconductor company's stock valued at $1,740,000 after purchasing an additional 57 shares during the period. Finally, Invesco LLC boosted its stake in shares of Synopsys by 8.0% during the second quarter. Invesco LLC now owns 2,718 shares of the semiconductor company's stock valued at $1,393,000 after purchasing an additional 201 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 2.4%

NASDAQ:SNPS opened at $493.39 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The firm has a market capitalization of $91.65 billion, a P/E ratio of 38.73, a PEG ratio of 5.31 and a beta of 1.14. The company's 50-day simple moving average is $567.08 and its 200 day simple moving average is $509.27. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73.

Insiders Place Their Bets

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the transaction, the chief accounting officer owned 20,520 shares in the company, valued at approximately $10,278,468. This represents a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% 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 valued at $16,760,783. Company insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNPS. Zacks Research lowered Synopsys from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. Baird R W cut shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 10th. KeyCorp dropped their target price on shares of Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a report on Wednesday, September 10th. JPMorgan Chase & Co. dropped their target price on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a report on Wednesday, September 10th. Finally, Morgan Stanley dropped their price objective on Synopsys from $715.00 to $510.00 and set an "overweight" rating for the company in a report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Synopsys has an average rating of "Hold" and a consensus price target 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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