Sumitomo Mitsui Trust Group Inc. Acquires 38,089 Shares of Synopsys, Inc. $SNPS

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its holdings in Synopsys, Inc. by 4.8%, owning a total of 823,578 shares valued at approximately $422 million.
• Analysts have differing opinions on Synopsys, with Citigroup downgrading the stock to "underperform" and Mizuho reducing its price target to $600, while others maintain it as a "hold" with a consensus price target of $569.67.
• CEO Sassine Ghazi sold 11,366 shares at an average price of $589.01, representing a 13.7% decrease in his position, while Director Robert G. Painter increased his stake by purchasing 350 shares.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 823,578 shares of the semiconductor company's stock after buying an additional 38,089 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.53% of Synopsys worth $422,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Independence Bank of Kentucky raised its stake in Synopsys by 120.0% in the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after buying an additional 30 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Synopsys during the first quarter worth $26,000. Princeton Global Asset Management LLC increased its position in shares of Synopsys by 481.8% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of a number of recent analyst reports. Citigroup downgraded Synopsys from a "neutral" rating to an "underperform" rating in a research report on Wednesday, September 10th. Mizuho reduced their price target on Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Bank of America reaffirmed an "underperform" rating and set a $525.00 price target (down previously from $625.00) on shares of Synopsys in a research report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Synopsys in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $569.67.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the transaction, the chief executive officer directly owned 71,615 shares of the company's stock, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert G. Painter purchased 350 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the purchase, the director directly owned 2,291 shares in the company, valued at $974,683.04. This represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 30,894 shares of company stock valued at $16,760,783. 0.62% of the stock is owned by corporate insiders.

Synopsys Trading Up 0.8%

SNPS stock opened at $459.55 on Friday. The company's 50-day simple moving average is $512.63 and its 200-day simple moving average is $511.59. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm has a market cap of $85.36 billion, a P/E ratio of 36.16, a PEG ratio of 5.01 and a beta of 1.10.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share (EPS) 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 firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the company earned $3.43 earnings per share. The company's 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. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS 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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