Talbot Financial LLC Buys 5,648 Shares of Synopsys, Inc. $SNPS

Talbot Financial LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.5% in the second quarter, Holdings Channel reports. The fund owned 29,670 shares of the semiconductor company’s stock after acquiring an additional 5,648 shares during the period. Synopsys comprises approximately 1.4% of Talbot Financial LLC’s holdings, making the stock its 28th biggest position. Talbot Financial LLC’s holdings in Synopsys were worth $15,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MCF Advisors LLC lifted its holdings in shares of Synopsys by 16.2% during the second quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 19 shares during the period. Trust Point Inc. lifted its holdings in shares of Synopsys by 4.4% during the second quarter. Trust Point Inc. now owns 494 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 21 shares during the period. Whelan Financial lifted its holdings in shares of Synopsys by 4.1% during the second quarter. Whelan Financial now owns 534 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 21 shares during the period. Quent Capital LLC lifted its holdings in shares of Synopsys by 1.8% during the second quarter. Quent Capital LLC now owns 1,204 shares of the semiconductor company’s stock valued at $617,000 after acquiring an additional 21 shares during the period. Finally, Hardy Reed LLC lifted its holdings in shares of 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 acquiring an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

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 PEG ratio of 5.17 and a beta of 1.10. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The business has a 50-day moving average of $559.15 and a 200-day moving average of $509.81. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert G. Painter acquired 350 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the transaction, the director directly owned 2,291 shares in the company, valued at $974,683.04. This trade represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,894 shares of company stock valued at $16,760,783 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BNP Paribas initiated coverage on Synopsys in a report on Thursday. They set an “underperform” rating and a $425.00 price objective for the company. Citigroup cut Synopsys from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 10th. Wall Street Zen cut Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Stifel Nicolaus cut their price target on Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Finally, Mizuho cut their price target on Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $575.31.

About Synopsys

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.