OVERSEA CHINESE BANKING Corp Ltd Reduces Stake in Synopsys, Inc. $SNPS

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,211 shares of the semiconductor company’s stock after selling 110 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Synopsys were worth $9,849,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky increased its stake in 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. Cornerstone Planning Group LLC increased its stake in 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 purchasing an additional 44 shares in the last quarter. Saudi Central Bank purchased a new position in Synopsys in the 1st quarter valued at approximately $26,000. Princeton Global Asset Management LLC increased its stake in Synopsys by 481.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in 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. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 transaction, the chief executive officer owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert G. Painter bought 350 shares of Synopsys stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the acquisition, the director directly owned 2,291 shares of the company’s stock, valued at $974,683.04. The trade was a 18.03% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,894 shares of company stock worth $16,760,783 over the last ninety days. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNPS shares. Wall Street Zen cut Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Citigroup lowered Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Wells Fargo & Company decreased their price objective on Synopsys from $630.00 to $550.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 10th. Stifel Nicolaus decreased 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. Finally, The Goldman Sachs Group decreased 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $569.67.

Synopsys Price Performance

SNPS stock opened at $464.18 on Monday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The stock’s fifty day simple moving average is $509.56 and its 200-day simple moving average is $513.66. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $86.22 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 5.11 and a beta of 1.10.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.75 by ($1.45). Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $3.43 EPS. Synopsys’s revenue for the quarter was up 14.0% compared to the same quarter last year. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. Equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

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.