Synopsys, Inc. $SNPS Shares Sold by Prudential PLC

Prudential PLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,898 shares of the semiconductor company’s stock after selling 535 shares during the period. Prudential PLC’s holdings in Synopsys were worth $6,100,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Saudi Central Bank bought a new stake in shares of Synopsys during the 1st quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% during the first 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 during the last quarter. Independence Bank of Kentucky lifted its holdings 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 during the last quarter. Princeton Global Asset Management LLC boosted its position in shares of 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 during the period. Finally, WPG Advisers LLC purchased a new position in Synopsys in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.7%

Shares of NASDAQ SNPS opened at $388.36 on Friday. The business has a 50 day simple moving average of $444.36 and a 200 day simple moving average of $510.13. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The stock has a market cap of $72.14 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 5.02 and a beta of 1.10. 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 posted its 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). Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $3.43 earnings per share. Synopsys’s revenue 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. On average, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the business’s stock in a transaction dated 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 owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the 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 directly owned 20,520 shares of the company’s stock, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 30,894 shares of company stock worth $16,760,783. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SNPS shares. KeyCorp reduced their price objective on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Piper Sandler cut their price target on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company decreased their price objective on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 10th. Morgan Stanley cut their target price on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Finally, Baird R W lowered Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $562.14.

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.