Synopsys, Inc. $SNPS Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 1,929 shares of the semiconductor company’s stock after selling 42 shares during the quarter. GraniteShares Advisors LLC’s holdings in Synopsys were worth $989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNPS. Brighton Jones LLC lifted its position in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after buying an additional 50 shares during the period. Centaurus Financial Inc. increased its stake in shares of Synopsys by 24.7% during the 4th quarter. Centaurus Financial Inc. now owns 561 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 111 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Synopsys by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,517 shares of the semiconductor company’s stock worth $9,473,000 after acquiring an additional 783 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Synopsys by 10.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 552 shares of the semiconductor company’s stock worth $237,000 after acquiring an additional 51 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Synopsys by 29.4% in the first quarter. AdvisorNet Financial Inc now owns 1,021 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.1%

Shares of SNPS opened at $487.76 on Monday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The stock’s 50-day moving average is $571.71 and its two-hundred day moving average is $509.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The stock has a market cap of $90.60 billion, a PE ratio of 38.29, a P/E/G ratio of 5.51 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNPS shares. The Goldman Sachs Group cut their price target on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Baird R W lowered Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 10th. Piper Sandler lowered their price target on Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Needham & Company LLC cut their price objective on Synopsys from $660.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Zacks Research lowered Synopsys from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Synopsys presently has an average rating of “Hold” and a consensus target price of $585.33.

Insider Buying and Selling

In other news, Director Robert G. Painter acquired 350 shares of the stock in a transaction on Thursday, September 11th. The stock was bought 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 of the company’s stock, valued at $974,683.04. The trade was a 18.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% 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 90 days. 0.62% of the stock is owned by insiders.

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.