Naples Global Advisors LLC Makes New Investment in Synopsys, Inc. $SNPS

Naples Global Advisors LLC purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 415 shares of the semiconductor company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independence Bank of Kentucky grew its stake in shares of Synopsys by 120.0% in the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 30 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 44 shares during the period. Saudi Central Bank acquired a new position in Synopsys in the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd grew its position in 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 acquiring an additional 53 shares during the period. Finally, WPG Advisers LLC acquired a new stake in Synopsys during the first quarter worth $34,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’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 transaction of $6,694,687.66. Following the sale, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the transaction, the chief financial officer owned 15,317 shares of the company’s stock, valued at $9,339,847.09. This represents a 19.27% decrease in their position. 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 quarter. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Down 0.4%

Synopsys stock opened at $469.17 on Friday. The firm has a market capitalization of $87.15 billion, a P/E ratio of 36.83, a P/E/G ratio of 5.19 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The stock’s fifty day simple moving average is $559.15 and its 200-day simple moving average is $509.40.

Analyst Ratings Changes

SNPS has been the topic of several research analyst reports. Piper Sandler reduced their price objective on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Needham & Company LLC reduced their price target on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Morgan Stanley decreased their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Mizuho lowered their price target on Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. Finally, 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 note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $575.31.

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.