Vontobel Holding Ltd. Boosts Holdings in Synopsys, Inc. $SNPS

Key Points

• Vontobel Holding Ltd. increased its stake in Synopsys, Inc. by 3.2%, acquiring an additional 28,770 shares, making it the fund's 16th largest investment.
• Shares of Synopsys, Inc. saw a 2.4% rise, but analysts have downgraded price targets, with Robert W. Baird setting a new target at $535, down from $670.
• Insider trading activity is notable, with CEO Sassine Ghazi selling over 11,000 shares, representing a 13.7% decrease in their ownership.

Vontobel Holding Ltd. boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 927,812 shares of the semiconductor company's stock after acquiring an additional 28,770 shares during the period. Synopsys accounts for 1.5% of Vontobel Holding Ltd.'s holdings, making the stock its 16th biggest position. Vontobel Holding Ltd. owned 0.60% of Synopsys worth $475,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Saudi Central Bank purchased a new stake in Synopsys during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after buying an additional 53 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Synopsys by 120.0% in the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after buying an additional 30 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Synopsys in the first quarter worth $34,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 2.4%

Shares of NASDAQ SNPS opened at $489.36 on Thursday. The company's 50-day simple moving average is $550.58 and its 200-day simple moving average is $510.06. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm has a market cap of $90.90 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 5.26 and a beta of 1.10. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a "neutral" rating and issued a $535.00 price target (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Citigroup cut shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Needham & Company LLC dropped their price target 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. Rosenblatt Securities restated a "neutral" rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Synopsys in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $575.31.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the sale, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,894 shares of company stock worth $16,760,783 in the last ninety days. 0.62% of the stock is 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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