Moss Adams Wealth Advisors LLC Acquires New Shares in Synopsys, Inc. $SNPS

Moss Adams Wealth Advisors LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, Holdings Channel reports. The firm acquired 757 shares of the semiconductor company’s stock, valued at approximately $388,000.

Other hedge funds have also recently bought and sold shares of the company. HBW Advisory Services LLC increased its stake 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 position in Synopsys in the 2nd quarter valued at approximately $1,505,000. North Star Asset Management Inc. increased its stake in 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 in the last quarter. SlateStone Wealth LLC increased its stake in 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 purchasing an additional 8,420 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in Synopsys by 13.1% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 7,069 shares of the semiconductor company’s stock valued at $3,624,000 after purchasing an additional 821 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer owned 20,520 shares in the company, valued at $10,278,468. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,894 shares of company stock worth $16,760,783 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 10th. Rosenblatt Securities reissued a “neutral” rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. The Goldman Sachs Group dropped their price target on Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Needham & Company LLC dropped their price target on Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley dropped their price target on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $585.33.

Synopsys Price Performance

SNPS stock opened at $481.61 on Tuesday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The stock’s fifty day simple moving average is $569.52 and its 200-day simple moving average is $509.38. 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 capitalization of $89.46 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 5.51 and a beta of 1.14.

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.