State of New Jersey Common Pension Fund D Sells 3,941 Shares of Synopsys, Inc. $SNPS

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Synopsys, Inc. by 7.1%, holding 51,569 shares valued at approximately $22.12 million as per its recent SEC filing.
• Several institutional investors boosted their stakes in Synopsys during the first quarter, indicating strong institutional interest with 85.47% of the stock owned by institutional investors and hedge funds.
• Analysts maintain a mostly positive outlook on Synopsys, with a consensus rating of "Moderate Buy" and an average target price of $630.67.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,569 shares of the semiconductor company's stock after selling 3,941 shares during the period. State of New Jersey Common Pension Fund D's holdings in Synopsys were worth $22,115,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Synopsys by 2.4% during 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 purchasing an additional 346,994 shares during the period. Capital World Investors boosted its position in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Pictet Asset Management Holding SA boosted its position in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after acquiring an additional 673,837 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on SNPS shares. Bank of America raised their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley restated an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Piper Sandler raised their price objective on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Finally, KeyCorp raised their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $630.67.

Synopsys Stock Performance

NASDAQ SNPS traded down $11.9270 during trading on Wednesday, hitting $600.8630. The company's stock had a trading volume of 1,239,861 shares, compared to its average volume of 1,423,817. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average price of $563.66 and a 200 day moving average price of $499.14. The firm has a market cap of $93.23 billion, a P/E ratio of 43.36, a price-to-earnings-growth ratio of 4.14 and a beta of 1.15. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 the consensus estimate of $1.60 billion. During the same period in the previous year, the business posted $3.00 EPS. The company's revenue for the quarter 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 forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $485.72, for a total transaction 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 $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

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.