Ritholtz Wealth Management Sells 70 Shares of Synopsys, Inc. $SNPS

Ritholtz Wealth Management cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,386 shares of the semiconductor company’s stock after selling 70 shares during the quarter. Ritholtz Wealth Management’s holdings in Synopsys were worth $711,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Synopsys in the 1st quarter worth approximately $341,480,000. Pictet Asset Management Holding SA boosted its position in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock valued at $1,043,518,000 after acquiring an additional 673,837 shares during the last quarter. Generation Investment Management LLP bought a new position in shares of Synopsys during the 1st quarter valued at approximately $240,491,000. Vanguard Group Inc. boosted its position in shares of Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock valued at $6,359,747,000 after acquiring an additional 346,994 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Synopsys by 22.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after acquiring an additional 313,218 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of the company’s 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 sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the sale, the chief executive officer owned 71,615 shares of the company’s stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,894 shares of company stock worth $16,760,783 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Synopsys Trading Up 1.7%

SNPS opened at $447.64 on Friday. The stock has a market cap of $83.15 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 4.93 and a beta of 1.10. The stock’s 50 day moving average price is $525.72 and its 200-day moving average price is $510.73. Synopsys, Inc. has a one year low of $365.74 and a one year 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.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.75 by ($1.45). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.43 EPS. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. On average, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Synopsys in a research report on Wednesday, October 8th. Needham & Company LLC lowered their target price on Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. 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. Morgan Stanley reduced their price objective on Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group reduced their price objective on Synopsys from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $569.67.

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.