Synopsys, Inc. $SNPS Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 58,112 shares of the semiconductor company’s stock after selling 2,439 shares during the quarter. Synopsys accounts for approximately 1.7% of AMI Asset Management Corp’s portfolio, making the stock its 27th biggest position. AMI Asset Management Corp’s holdings in Synopsys were worth $29,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. Saudi Central Bank purchased a new position in Synopsys during the 1st quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 53 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Synopsys by 120.0% during the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 30 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in Synopsys during the 1st quarter valued at about $34,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SNPS shares. Mizuho dropped their target price on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Zacks Research downgraded shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. JPMorgan Chase & Co. lowered their price target on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Rosenblatt Securities reiterated a “neutral” rating and set a $605.00 price target (down from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, Bank of America reiterated an “underperform” rating and set a $525.00 price target (down from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $585.33.

Synopsys Price Performance

Synopsys stock opened at $488.78 on Thursday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm has a 50 day moving average price of $564.57 and a 200 day moving average price of $509.13. The company 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 company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62.

Insider Buying and Selling at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction that occurred on Monday, September 22nd. The shares were 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 of the company’s stock, valued at $10,278,468. The trade was a 32.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert G. Painter purchased 350 shares of Synopsys stock in a transaction on Thursday, September 11th. The shares were acquired at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the transaction, the director owned 2,291 shares of the company’s stock, valued at $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 30,894 shares of company stock valued at $16,760,783. 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.