Price T Rowe Associates Inc. MD Sells 490,478 Shares of Synopsys, Inc. $SNPS

Key Points

• Price T Rowe Associates Inc. reduced its stake in Synopsys, Inc. by 8.3%, selling 490,478 shares during the first quarter, leaving them with approximately 5.4 million shares valued at $2.32 billion.
• Multiple institutional investors increased their positions in Synopsys, with notable boosts from Kayne Anderson Rudnick Investment Management LLC at 516% and Brighton Jones LLC by 5.7% in the fourth quarter.
• Analysts have raised their price targets for Synopsys, with estimates now ranging from $550.00 to $715.00, reflecting strong buy ratings from various research firms.

Price T Rowe Associates Inc. MD reduced its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,412,218 shares of the semiconductor company's stock after selling 490,478 shares during the period. Price T Rowe Associates Inc. MD owned about 3.50% of Synopsys worth $2,321,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNPS. Brighton Jones LLC boosted its holdings in Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after purchasing an additional 50 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Synopsys during the 4th quarter valued at $228,000. Jump Financial LLC purchased a new position in shares of Synopsys in the fourth quarter valued at about $453,000. NewEdge Advisors LLC boosted its stake in Synopsys by 5.1% in the 4th quarter. NewEdge Advisors LLC now owns 2,615 shares of the semiconductor company's stock worth $1,269,000 after purchasing an additional 127 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Synopsys by 516.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 154 shares of the semiconductor company's stock worth $75,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

SNPS has been the subject of several research analyst reports. Rosenblatt Securities raised their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley restated an "overweight" rating and issued a $715.00 price target (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. KeyCorp increased their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Piper Sandler raised 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. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $630.67.

Insider Activity at Synopsys

In other Synopsys news, 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 completion of the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 in the last ninety days. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

SNPS opened at $601.13 on Thursday. The firm has a market capitalization of $93.27 billion, a PE ratio of 43.40, a price-to-earnings-growth ratio of 4.06 and a beta of 1.15. 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 business's 50-day moving average is $565.67 and its two-hundred day moving average is $499.85. 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 announced its 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 net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm earned $3.00 earnings per share. Synopsys's revenue 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. Research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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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