Platinum Investment Management Ltd. Buys 49 Shares of Synopsys, Inc. $SNPS

Platinum Investment Management Ltd. raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% during the 2nd quarter, Holdings Channel reports. The fund owned 3,366 shares of the semiconductor company’s stock after purchasing an additional 49 shares during the period. Platinum Investment Management Ltd.’s holdings in Synopsys were worth $1,726,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC raised its stake in shares of Synopsys by 16.2% during the 2nd quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 19 shares during the last quarter. Trust Point Inc. raised its stake in shares of Synopsys by 4.4% during the 2nd quarter. Trust Point Inc. now owns 494 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 21 shares during the last quarter. Hardy Reed LLC raised its stake 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 buying an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC raised its stake in shares of 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 during the last quarter. Finally, Trust Asset Management LLC raised its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the subject of several recent analyst reports. Bank of America restated an “underperform” rating and issued a $525.00 price target (down previously from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. Piper Sandler cut their price target on Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company cut their price target on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 10th. Morgan Stanley cut their price target on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Finally, Needham & Company LLC cut their price target on Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $585.33.

Insider Transactions at Synopsys

In other news, 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 transaction of $4,945,385.70. Following the transaction, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. The trade was a 32.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert G. Painter bought 350 shares of the stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of $425.44 per share, for a total transaction 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. The trade was a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Trading Down 0.9%

SNPS stock opened at $488.78 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The stock has a market cap of $90.79 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 5.44 and a beta of 1.10. The business’s 50-day moving average is $564.57 and its 200 day moving average is $509.13.

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.