4,443 Shares in Synopsys, Inc. $SNPS Acquired by First American Bank

First American Bank acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,443 shares of the semiconductor company’s stock, valued at approximately $2,278,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock valued at $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Nuveen LLC acquired a new position in Synopsys during the 1st quarter valued at approximately $341,480,000. Pictet Asset Management Holding SA increased its stake 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 valued at $1,043,518,000 after purchasing an additional 673,837 shares in the last quarter. Generation Investment Management LLP acquired a new position in Synopsys during the 1st quarter valued at approximately $240,491,000. Finally, Vanguard Group Inc. increased its stake 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 purchasing an additional 346,994 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 directly owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a 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 dated Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction 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 $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 have sold 30,894 shares of company stock valued at $16,760,783 over the last ninety days. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Synopsys from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Wells Fargo & Company cut their price objective on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 10th. Rosenblatt Securities reiterated a “neutral” rating and issued a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. Finally, Piper Sandler cut their price objective on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $585.33.

Synopsys Stock Performance

SNPS opened at $487.76 on Friday. 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 market cap of $90.60 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 5.50 and a beta of 1.14. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm’s fifty day simple moving average is $571.71 and its two-hundred day simple moving average is $508.05.

Synopsys Company 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.