Synopsys, Inc. $SNPS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 86.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,369 shares of the semiconductor company’s stock after selling 89,441 shares during the period. Assenagon Asset Management S.A.’s holdings in Synopsys were worth $7,367,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HBW Advisory Services LLC lifted its holdings in Synopsys by 494.9% in the 2nd quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company’s stock valued at $1,851,000 after purchasing an additional 3,004 shares in the last quarter. Westbourne Investments Inc. purchased a new stake in Synopsys in the second quarter valued at $1,505,000. North Star Asset Management Inc. lifted its stake in shares of Synopsys by 3.6% in the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company’s stock valued at $25,847,000 after purchasing an additional 2,082 shares during the last quarter. SlateStone Wealth LLC raised its stake in shares of Synopsys by 467.8% in the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company’s stock valued at $4,383,000 after acquiring an additional 8,420 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Synopsys in the first quarter valued at $1,000,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Robert W. Baird reiterated a “neutral” rating and set a $535.00 price target (down previously from $670.00) on shares of Synopsys in a report on Wednesday, September 10th. Zacks Research lowered shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $605.00 price objective (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Finally, Mizuho dropped their target price on Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Eleven 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 a consensus rating of “Hold” and an average price target of $585.33.

Synopsys Stock Performance

NASDAQ:SNPS opened at $490.32 on Wednesday. The firm’s fifty day simple moving average is $577.75 and its 200-day simple moving average is $507.53. 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 cap of $91.08 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73.

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.