Synopsys, Inc. $SNPS Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its holdings in Synopsys, Inc. by 16.6%, now owning 4,736 shares worth approximately $2.03 million.
• Several analysts have set increased price targets for Synopsys, with a consensus average target of $630.67 and an overall rating of "Moderate Buy."
• Institutional ownership of Synopsys stock is high, with 85.47% of shares held by hedge funds and institutional investors, reflecting strong confidence in the company's performance.

Cresset Asset Management LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,736 shares of the semiconductor company's stock after selling 944 shares during the quarter. Cresset Asset Management LLC's holdings in Synopsys were worth $2,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Boston Family Office LLC grew its stake in shares of Synopsys by 1.0% in the 1st quarter. Boston Family Office LLC now owns 4,449 shares of the semiconductor company's stock valued at $1,908,000 after purchasing an additional 44 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Synopsys by 5.6% in the 1st quarter. American Century Companies Inc. now owns 603,597 shares of the semiconductor company's stock valued at $258,853,000 after purchasing an additional 32,123 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Synopsys in the 1st quarter valued at approximately $2,601,000. Aberdeen Group plc grew its stake in shares of Synopsys by 79.4% in the 1st quarter. Aberdeen Group plc now owns 124,175 shares of the semiconductor company's stock valued at $53,130,000 after purchasing an additional 54,944 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Synopsys by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 337,331 shares of the semiconductor company's stock valued at $144,670,000 after purchasing an additional 6,954 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lifted their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Rosenblatt Securities lifted their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $626.79.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last three months. 0.62% of the stock is currently owned by insiders.

Synopsys Price Performance

SNPS traded up $8.35 during trading on Friday, reaching $606.52. 863,153 shares of the stock were exchanged, compared to its average volume of 1,313,433. The business's 50 day moving average price is $570.29 and its two-hundred day moving average price is $500.95. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market capitalization of $94.11 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 3.93 and a beta of 1.15. Synopsys, Inc. has a 1 year low of $365.74 and a 1 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, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the firm posted $3.00 earnings per share. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Synopsys has set its FY 2025 guidance at 15.110-15.190 EPS. Q3 2025 guidance at 3.820-3.87 EPS. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share 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.