MassMutual Private Wealth & Trust FSB Buys 176 Shares of Synopsys, Inc. $SNPS

MassMutual Private Wealth & Trust FSB increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 31.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 728 shares of the semiconductor company’s stock after acquiring an additional 176 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Synopsys were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock worth $6,359,747,000 after acquiring an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA grew its position 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 acquiring an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. grew its position in Synopsys by 6.6% during the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $863,500,000 after acquiring an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Synopsys by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock worth $778,928,000 after acquiring an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Synopsys by 22.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock worth $739,857,000 after acquiring an additional 313,218 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ SNPS opened at $480.11 on Friday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The stock has a 50-day moving average of $581.30 and a 200 day moving average of $506.03. The company has a market capitalization of $89.18 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 4.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 sale, the chief executive officer owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert G. Painter acquired 350 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the acquisition, the director directly owned 2,291 shares of the company’s stock, valued at $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Morgan Stanley dropped their price objective on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. JPMorgan Chase & Co. dropped their price objective on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Wells Fargo & Company dropped their price objective on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a report on Wednesday, September 10th. Finally, Piper Sandler dropped their price objective on Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $585.33.

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.