Vident Advisory LLC Sells 4,630 Shares of Synopsys, Inc. $SNPS

Key Points

• Vident Advisory LLC reduced its stake in Synopsys, Inc. by 13.9%, selling 4,630 shares and bringing its total holdings to 28,564 shares valued at approximately $12.25 million.
• Multiple analysts have raised their price targets for Synopsys, with Piper Sandler setting a new target at $660 and Morgan Stanley at $715, reflecting strong confidence in the company’s growth.
• Recent insider activity revealed significant stock sales by executives, with CRO Richard S. Mahoney selling 9,010 shares valued at over $4.24 million, resulting in an 85.85% decrease in his holdings.

Vident Advisory LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,564 shares of the semiconductor company's stock after selling 4,630 shares during the period. Vident Advisory LLC's holdings in Synopsys were worth $12,250,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in Synopsys by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 137,382 shares of the semiconductor company's stock worth $58,935,000 after purchasing an additional 3,704 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Synopsys by 18.1% in the first quarter. Canada Pension Plan Investment Board now owns 53,039 shares of the semiconductor company's stock worth $22,746,000 after acquiring an additional 8,130 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Synopsys by 15.5% in the first quarter. Parnassus Investments LLC now owns 1,363,310 shares of the semiconductor company's stock worth $584,655,000 after acquiring an additional 182,642 shares in the last quarter. WPG Advisers LLC bought a new position in Synopsys in the first quarter worth approximately $34,000. Finally, Landscape Capital Management L.L.C. bought a new position in Synopsys in the first quarter worth approximately $1,450,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

SNPS stock traded down $11.51 during trading on Tuesday, reaching $592.01. The company's stock had a trading volume of 1,387,966 shares, compared to its average volume of 1,407,516. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $91.86 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 3.97 and a beta of 1.14. The company's fifty day moving average is $585.72 and its 200-day moving average is $503.81.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. Rosenblatt Securities increased their price target on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company reiterated a "positive" rating on shares of Synopsys in a report on Wednesday, August 27th. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $715.00 price target (up previously from $540.00) on shares of Synopsys in a report on Monday, August 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $634.64.

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.