OFI Invest Asset Management Trims Position in Synopsys, Inc. $SNPS

Key Points

• OFI Invest Asset Management significantly reduced its position in Synopsys, Inc. by 96.9% in Q2, leaving it with only 241 shares valued at $124,000.
• Despite the reduction in holdings by OFI, other institutional investors like Vanguard Group and Pictet Asset Management have increased their positions, indicating continued institutional interest in Synopsys.
• Analysts have revised Synopsys' price targets downward, with estimates ranging from $510.00 to $660.00, reflecting a cautious outlook after the company reported earnings that fell short of expectations.

OFI Invest Asset Management trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 96.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 241 shares of the semiconductor company's stock after selling 7,577 shares during the period. OFI Invest Asset Management's holdings in Synopsys were worth $124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Synopsys by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after buying an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after buying an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock valued at $863,500,000 after buying an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Synopsys by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company's stock valued at $778,928,000 after buying an additional 305,489 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Synopsys by 22.2% in the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company's stock valued at $739,857,000 after buying an additional 313,218 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert G. Painter purchased 350 shares of Synopsys stock in a transaction on Thursday, September 11th. The stock was acquired at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the acquisition, the director directly owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 30,894 shares of company stock worth $16,760,783 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNPS shares. Needham & Company LLC reduced their target price on shares of Synopsys from $660.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Morgan Stanley dropped their price target 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. The Goldman Sachs Group dropped their price target on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Piper Sandler dropped their price target on shares of Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Finally, Stifel Nicolaus dropped their price target on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Synopsys presently has an average rating of "Hold" and a consensus price target of $575.31.

Synopsys Trading Down 9.4%

Shares of SNPS opened at $438.92 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average is $544.01 and its two-hundred day moving average is $510.99. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The firm has a market capitalization of $81.53 billion, a P/E ratio of 34.45, a PEG ratio of 4.84 and a beta of 1.10.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($1.45). Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $3.43 earnings per share. The company's quarterly 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.

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.

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