Sendero Wealth Management LLC Sells 387 Shares of Synopsys, Inc. $SNPS

Sendero Wealth Management LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,409 shares of the semiconductor company’s stock after selling 387 shares during the period. Sendero Wealth Management LLC’s holdings in Synopsys were worth $1,748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Synopsys during the 1st quarter worth approximately $341,480,000. Pictet Asset Management Holding SA grew its stake 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 purchasing an additional 673,837 shares during the period. Generation Investment Management LLP bought a new position in Synopsys in the first quarter worth $240,491,000. Vanguard Group Inc. raised its holdings 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 purchasing an additional 346,994 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in 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 buying an additional 313,218 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SNPS shares. Bank of America reaffirmed an “underperform” rating and issued a $525.00 target price (down from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. Stifel Nicolaus dropped their price objective on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Baird R W cut shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Morgan Stanley lowered their target price on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Finally, Citigroup downgraded Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $575.31.

Synopsys Trading Down 0.4%

SNPS stock opened at $469.17 on Monday. The company has a market capitalization of $87.15 billion, a PE ratio of 36.83, a P/E/G ratio of 5.17 and a beta of 1.10. The firm’s 50-day moving average is $559.15 and its 200 day moving average is $510.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Insider Buying and Selling at Synopsys

In other 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert G. Painter bought 350 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the transaction, the director owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This trade 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 worth $16,760,783. 0.62% of the stock is currently owned by company insiders.

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.