Credit Agricole S A Cuts Position in Synopsys, Inc. $SNPS

Key Points

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Credit Agricole S A decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 56.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,943 shares of the semiconductor company's stock after selling 189,239 shares during the quarter. Credit Agricole S A owned approximately 0.09% of Synopsys worth $62,159,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% during 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 during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Synopsys by 441.7% in 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 in the last quarter. Ameriflex Group Inc. bought a new position in Synopsys in the fourth quarter valued at about $29,000. Cloud Capital Management LLC bought a new position in Synopsys in the first quarter valued at about $36,000. Finally, Meeder Asset Management Inc. grew its position in Synopsys by 33.3% in the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 1.4%

Shares of SNPS stock traded up $8.35 during trading hours on Friday, reaching $606.52. The company's stock had a trading volume of 863,153 shares, compared to its average volume of 1,421,519. The firm's fifty day simple moving average is $567.73 and its 200 day simple moving average is $500.38. The stock has a market capitalization of $94.11 billion, a P/E ratio of 43.79, a P/E/G ratio of 3.95 and a beta of 1.15. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company posted $3.00 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. Synopsys has set its FY 2025 guidance at 15.110-15.190 EPS. Q3 2025 guidance at 3.820-3.87 EPS. Equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SNPS. Piper Sandler lifted their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. The Goldman Sachs Group began coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Morgan Stanley restated an "overweight" rating and set a $715.00 price target (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Bank of America increased their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Rosenblatt Securities upped their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $626.79.

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.