Wealth Enhancement Advisory Services LLC Decreases Holdings in Synopsys, Inc. $SNPS

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,810 shares of the semiconductor company’s stock after selling 362 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Synopsys were worth $10,871,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SNPS. Hardy Reed LLC increased its position in shares of Synopsys by 0.7% during the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company’s stock valued at $1,411,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC grew its holdings in Synopsys by 2.7% during the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 22 shares in the last quarter. Trust Asset Management LLC grew its holdings in Synopsys by 1.3% during the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company’s stock valued at $757,000 after buying an additional 22 shares in the last quarter. Harbour Investments Inc. grew its holdings in Synopsys by 10.8% during the 1st quarter. Harbour Investments Inc. now owns 235 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 23 shares in the last quarter. Finally, Argent Trust Co boosted its position in shares of Synopsys by 2.8% during the 1st quarter. Argent Trust Co now owns 856 shares of the semiconductor company’s stock valued at $367,000 after acquiring an additional 23 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer owned 71,615 shares of the company’s stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

Synopsys Stock Up 3.9%

Synopsys stock opened at $514.79 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. 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 $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 business has a 50 day simple moving average of $579.33 and a 200-day simple moving average of $507.65.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Baird R W downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 10th. Bank of America reiterated an “underperform” rating and issued a $525.00 target price (down previously from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. The Goldman Sachs Group cut their price target on Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Mizuho cut their price target on Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Finally, Zacks Research lowered Synopsys from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.