Louisiana State Employees Retirement System Lowers Stock Holdings in Synopsys, Inc. $SNPS

Louisiana State Employees Retirement System decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,500 shares of the semiconductor company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $9,997,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNPS. HBW Advisory Services LLC increased its stake in Synopsys by 494.9% during the second quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company’s stock worth $1,851,000 after purchasing an additional 3,004 shares during the period. Westbourne Investments Inc. acquired a new position in shares of Synopsys in the second quarter valued at approximately $1,505,000. Bourgeon Capital Management LLC purchased a new position in Synopsys in the 2nd quarter valued at approximately $451,000. North Star Asset Management Inc. boosted its position 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 buying an additional 2,082 shares during the period. Finally, SlateStone Wealth LLC boosted its position 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 buying an additional 8,420 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Synopsys from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Rosenblatt Securities restated a “neutral” rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Baird R W downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 10th. KeyCorp lowered their price objective on Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Finally, Morgan Stanley decreased their price target on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $575.31.

Insider Activity at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the transaction, the chief accounting officer owned 20,520 shares in the company, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert G. Painter bought 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The stock was purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director directly owned 2,291 shares in the company, valued at approximately $974,683.04. The trade was a 18.03% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 30,894 shares of company stock worth $16,760,783 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $477.83 on Wednesday. The business has a 50 day moving average price of $553.70 and a 200 day moving average price of $510.20. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 5.27 and a beta of 1.10. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

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.