Erste Asset Management GmbH Cuts Stake in Synopsys, Inc. $SNPS

Key Points

• Erste Asset Management GmbH reduced its stake in Synopsys, Inc. by 16.9%, now holding 44,175 shares after selling 8,984 shares in the 1st quarter, with the value of their holdings amounting to $19,079,000.
• Synopsys reported earnings of $3.67 per share for the last quarter, exceeding analyst estimates of $3.40, with a revenue of $1.60 billion.
• Recent analyst ratings show strong support for Synopsys, with Bank of America raising its price target from $575.00 to $625.00 and a consensus target price of $630.67 among analysts.

Erste Asset Management GmbH trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 44,175 shares of the semiconductor company's stock after selling 8,984 shares during the quarter. Erste Asset Management GmbH's holdings in Synopsys were worth $19,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC grew its position 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 lifted its stake in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 53 shares during the period. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter valued at about $29,000. Cloud Capital Management LLC bought a new position in Synopsys during the 1st quarter valued at about $36,000. Finally, Meeder Asset Management Inc. lifted its stake in Synopsys by 33.3% during the 1st 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 period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 2.0%

Synopsys stock opened at $612.79 on Wednesday. The firm has a 50 day moving average of $563.66 and a 200 day moving average of $499.14. The firm has a market capitalization of $95.08 billion, a price-to-earnings ratio of 44.24, a P/E/G ratio of 4.14 and a beta of 1.15. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. 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 (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. 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, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the topic of several research analyst reports. Bank of America upped their target price on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley restated an "overweight" rating and set a $715.00 target price (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Piper Sandler increased their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and a consensus target price of $630.67.

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.

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