Exchange Traded Concepts LLC Boosts Stake in Synopsys, Inc. $SNPS

Exchange Traded Concepts LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,204 shares of the semiconductor company’s stock after buying an additional 540 shares during the period. Exchange Traded Concepts LLC’s holdings in Synopsys were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after buying an additional 44 shares during the period. Saudi Central Bank purchased a new stake in Synopsys during the first quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the 4th quarter valued at $29,000. Finally, WPG Advisers LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $514.79 on Tuesday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. 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 stock has a market capitalization of $95.62 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 5.60 and a beta of 1.14. The stock’s 50-day moving average price is $579.33 and its 200-day moving average price is $507.65.

Insider Activity

In other Synopsys news, Director Robert G. Painter bought 350 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, for a total transaction 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. The trade was a 18.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the sale, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SNPS shares. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Wells Fargo & Company decreased 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. Bank of America reiterated an “underperform” rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Robert W. Baird reiterated a “neutral” rating and set a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. decreased 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. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $585.33.

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.