Synopsys, Inc. $SNPS Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the second quarter, Holdings Channel reports. The firm owned 19,500 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $9,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SNPS. Brighton Jones LLC increased its position in Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 50 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Synopsys by 25.9% during the first quarter. Gateway Investment Advisers LLC now owns 540 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Synopsys by 9.1% during the first quarter. Farther Finance Advisors LLC now owns 1,899 shares of the semiconductor company’s stock worth $828,000 after purchasing an additional 158 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in shares of Synopsys during the first quarter worth $547,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Synopsys by 92.8% during the first quarter. Harbor Capital Advisors Inc. now owns 3,260 shares of the semiconductor company’s stock worth $1,398,000 after purchasing an additional 1,569 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

SNPS stock opened at $477.83 on Wednesday. The firm has a 50 day moving average of $553.70 and a 200-day moving average of $510.20. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. 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 company 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup downgraded shares of Synopsys from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 10th. Wall Street Zen lowered shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Piper Sandler lowered 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Synopsys in a report on Saturday, September 27th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Synopsys presently has an average rating of “Hold” and an average target price of $575.31.

Insider Transactions at Synopsys

In other news, Director Robert G. Painter bought 350 shares of the stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,894 shares of company stock valued at $16,760,783. Company insiders own 0.62% of the company’s stock.

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.