J. Safra Sarasin Holding AG Boosts Stock Position in Synopsys, Inc. $SNPS

J. Safra Sarasin Holding AG grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,771 shares of the semiconductor company’s stock after purchasing an additional 1,999 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Synopsys were worth $23,466,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SNPS. HBW Advisory Services LLC lifted its holdings in Synopsys by 494.9% during the second 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 during the last quarter. Westbourne Investments Inc. bought a new position in Synopsys in the 2nd quarter worth approximately $1,505,000. North Star Asset Management Inc. raised its holdings in Synopsys by 3.6% during 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 acquiring an additional 2,082 shares during the period. SlateStone Wealth LLC lifted its position in shares of Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company’s stock worth $4,383,000 after acquiring an additional 8,420 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in shares of Synopsys in the second quarter worth $451,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 20,520 shares of the company’s stock, valued at approximately $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the transaction, the chief financial officer directly owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,894 shares of company stock valued at $16,760,783 over the last quarter. Company insiders own 0.62% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $488.78 on Thursday. The firm has a market cap of $90.79 billion, a P/E ratio of 38.37, a P/E/G ratio of 5.44 and a beta of 1.10. The firm’s fifty day moving average is $564.57 and its 200 day moving average is $509.13. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Citigroup cut shares of Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Rosenblatt Securities restated a “neutral” rating and set a $605.00 target price (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. Zacks Research downgraded Synopsys from a “hold” rating to a “strong sell” rating in a research report on Friday, September 12th. Finally, Mizuho cut their price objective on Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of “Hold” and an average price target of $585.33.

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.