Synopsys, Inc. $SNPS Shares Acquired by REAP Financial Group LLC

REAP Financial Group LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 182.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 237 shares of the semiconductor company’s stock after buying an additional 153 shares during the quarter. REAP Financial Group LLC’s holdings in Synopsys were worth $121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 44 shares during the period. Saudi Central Bank purchased a new position in shares of Synopsys in the 1st quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Synopsys by 120.0% in the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Synopsys in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $477.83 on Wednesday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The stock has a 50 day moving average of $553.70 and a two-hundred day moving average of $510.20. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The firm has a market cap of $88.76 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 5.27 and a beta of 1.10.

Analyst Ratings Changes

SNPS has been the subject of several recent analyst reports. BNP Paribas initiated coverage on Synopsys in a research note on Thursday, October 2nd. They issued an “underperform” rating and a $425.00 price target for the company. Citigroup lowered Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Morgan Stanley cut their price target on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company cut their price target on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 10th. Finally, Needham & Company LLC cut their price target on Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $575.31.

Insider Buying and Selling

In other news, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the sale, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert G. Painter purchased 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, with a total value of $148,904.00. Following the completion of the transaction, the director directly owned 2,291 shares of the company’s stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 30,894 shares of company stock valued at $16,760,783 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

Synopsys 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.