Sendero Wealth Management LLC Reduces Position in Synopsys, Inc. $SNPS

Sendero Wealth Management LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,409 shares of the semiconductor company’s stock after selling 387 shares during the period. Sendero Wealth Management LLC’s holdings in Synopsys were worth $1,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SNPS. Nuveen LLC bought a new position in shares of Synopsys in the first quarter worth $341,480,000. Pictet Asset Management Holding SA lifted its holdings in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after purchasing an additional 673,837 shares in the last quarter. Generation Investment Management LLP purchased a new position in Synopsys during the 1st quarter valued at about $240,491,000. Vanguard Group Inc. grew its holdings in Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock valued at $6,359,747,000 after buying an additional 346,994 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after buying an additional 313,218 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, Director Robert G. Painter purchased 350 shares of the stock in a transaction 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 transaction, the director directly owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This trade represents a 18.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Zacks Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. Weiss Ratings restated a “hold (c)” rating on shares of Synopsys in a research report on Saturday, September 27th. Mizuho lowered their price objective on Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, Piper Sandler decreased their target price on Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Synopsys has an average rating of “Hold” and a consensus price target of $575.31.

Synopsys Trading Down 0.4%

NASDAQ:SNPS opened at $469.17 on Monday. The firm has a market capitalization of $87.15 billion, a P/E ratio of 36.83, a P/E/G ratio of 5.17 and a beta of 1.10. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $559.15 and a 200 day moving average of $510.22. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73.

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.