Global Assets Advisory LLC Sells 1,431 Shares of Synopsys, Inc. $SNPS

Global Assets Advisory LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 58.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 998 shares of the semiconductor company’s stock after selling 1,431 shares during the quarter. Global Assets Advisory LLC’s holdings in Synopsys were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SNPS. Brighton Jones LLC raised its holdings in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Synopsys in the 1st quarter worth approximately $221,000. Gateway Investment Advisers LLC raised its stake in Synopsys by 25.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 111 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Synopsys by 27.1% during the 1st quarter. Sivia Capital Partners LLC now owns 614 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 131 shares during the last quarter. Finally, Barden Capital Management Inc. lifted its holdings in shares of Synopsys by 3.4% during the 1st quarter. Barden Capital Management Inc. now owns 1,894 shares of the semiconductor company’s stock valued at $812,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.4%

Shares of SNPS stock opened at $469.17 on Monday. The stock’s 50-day moving average price is $559.15 and its 200-day moving average price is $510.22. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The stock has a market capitalization of $87.15 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 5.17 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.

Insider Transactions at Synopsys

In other Synopsys news, Director Robert G. Painter purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the purchase, the director directly owned 2,291 shares in the company, valued at $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the transaction, the chief accounting officer owned 20,520 shares of the company’s stock, valued at $10,278,468. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,894 shares of company stock valued at $16,760,783 over the last quarter. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on SNPS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Synopsys in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Synopsys from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Needham & Company LLC lowered their price objective 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. JPMorgan Chase & Co. cut their target price on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $605.00 price target (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Eleven investment 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 a consensus rating of “Hold” and a consensus price target of $575.31.

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.