Synopsys, Inc. $SNPS Stake Cut by Swedbank AB

Swedbank AB cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,300,950 shares of the semiconductor company’s stock after selling 205,251 shares during the quarter. Synopsys accounts for about 0.7% of Swedbank AB’s investment portfolio, making the stock its 23rd largest holding. Swedbank AB owned about 0.84% of Synopsys worth $557,912,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNPS. Vanguard Group Inc. increased its position in Synopsys by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock worth $6,359,747,000 after buying an additional 346,994 shares during the period. Pictet Asset Management Holding SA increased its position in Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after buying an additional 673,837 shares during the period. Ameriprise Financial Inc. increased its position in Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $863,500,000 after buying an additional 125,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Synopsys by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock valued at $778,928,000 after purchasing an additional 305,489 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after purchasing an additional 313,218 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $438.10 on Friday. The company has a quick ratio of 6.85, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $592.81 and its two-hundred day moving average is $506.77. The company has a market cap of $67.98 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.55 and a beta of 1.14. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. Baird R W lowered Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley lowered their price target on Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a report on Wednesday. Robert W. Baird reissued a “neutral” rating and set a $535.00 price target (down from $670.00) on shares of Synopsys in a report on Wednesday. Finally, Stifel Nicolaus lowered their price target on Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $585.33.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock worth $13,168,999 over the last three months. 0.62% of the stock is currently owned by corporate insiders.

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.