Synopsys, Inc. $SNPS Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.5% during the 2nd quarter, Holdings Channel reports. The fund owned 5,275 shares of the semiconductor company’s stock after selling 1,715 shares during the period. Westpac Banking Corp’s holdings in Synopsys were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky raised its stake in shares of Synopsys by 120.0% during the second 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. Saudi Central Bank acquired a new position in Synopsys during the 1st quarter valued at about $26,000. Princeton Global Asset Management LLC raised its position in shares of Synopsys by 481.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock worth $33,000 after buying an additional 53 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted 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 worth $28,000 after acquiring an additional 53 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Synopsys by 423.1% in the 2nd quarter. AlphaQuest LLC now owns 68 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 55 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of several recent analyst reports. Mizuho dropped their target price on Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Piper Sandler dropped their price objective on Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 10th. JPMorgan Chase & Co. cut their price objective on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Stifel Nicolaus decreased their target price on Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Finally, Bank of America reiterated an “underperform” rating and issued a $525.00 price target (down from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Synopsys has a consensus rating of “Hold” and a consensus price target of $562.14.

Synopsys Stock Down 1.0%

Shares of Synopsys stock opened at $389.83 on Friday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The firm has a market capitalization of $72.41 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 5.02 and a beta of 1.10. 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’s fifty day moving average is $454.97 and its 200-day moving average is $513.24.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.75 by ($1.45). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $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. Equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Activity

In related news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares in the company, valued at approximately $10,278,468. This represents a 32.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction that occurred 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 transaction, the chief financial officer 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 is available in the SEC filing. Insiders have sold 30,894 shares of company stock worth $16,760,783 over the last three months. 0.62% of the stock is owned by insiders.

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.