Strs Ohio Acquires Shares of 87,698 Synopsys, Inc. $SNPS

Strs Ohio acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,698 shares of the semiconductor company’s stock, valued at approximately $37,609,000. Strs Ohio owned 0.06% of Synopsys at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Williams Jones Wealth Management LLC. grew its holdings in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company’s stock valued at $2,257,000 after purchasing an additional 22 shares during the period. Hardy Reed LLC grew its holdings in Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company’s stock valued at $1,411,000 after purchasing an additional 22 shares during the period. Resurgent Financial Advisors LLC grew its holdings in Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 22 shares during the period. Trust Asset Management LLC boosted its holdings in shares of Synopsys by 1.3% in the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company’s stock worth $757,000 after acquiring an additional 22 shares during the period. Finally, Argent Trust Co grew its position in shares of Synopsys by 2.8% in the first quarter. Argent Trust Co now owns 856 shares of the semiconductor company’s stock valued at $367,000 after purchasing an additional 23 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $438.10 on Friday. The firm has a market capitalization of $67.98 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.55 and a beta of 1.14. The company has a quick ratio of 6.85, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $592.81 and its two-hundred day simple moving average is $506.77. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the transaction, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was 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 in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,031 shares of company stock worth $13,168,999 in the last ninety days. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNPS. Wells Fargo & Company reduced their price target on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America reiterated an “underperform” rating and issued a $525.00 price target (down from $625.00) on shares of Synopsys in a research report on Wednesday. KeyCorp reduced their price target on Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus reduced their price target on Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” 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.