Synopsys, Inc. $SNPS Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Synopsys, Inc. by 11.6%, selling 2,850 shares during the 2nd quarter, leaving them with a total of 21,768 shares valued at approximately $11.16 million.
• Several analysts have revised their price targets for Synopsys, with KeyCorp and JPMorgan reducing theirs to $590 and $600 respectively, while Piper Sandler lowered its target to $630, all maintaining an "overweight" rating on the stock.
• Despite a revenue increase of 14% year-over-year, Synopsys reported an earnings miss for the quarter, posting $2.30 per share against the consensus estimate of $3.75.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,768 shares of the semiconductor company's stock after selling 2,850 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Synopsys were worth $11,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HBW Advisory Services LLC boosted its stake in Synopsys by 494.9% during the 2nd quarter. HBW Advisory Services LLC now owns 3,611 shares of the semiconductor company's stock worth $1,851,000 after purchasing an additional 3,004 shares during the last quarter. Westbourne Investments Inc. purchased a new position in shares of Synopsys during the 2nd quarter worth $1,505,000. Bourgeon Capital Management LLC purchased a new position in shares of Synopsys during the 2nd quarter worth $451,000. North Star Asset Management Inc. raised its holdings in shares of Synopsys by 3.6% during the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 2,082 shares during the period. Finally, SlateStone Wealth LLC raised its holdings in shares of Synopsys by 467.8% during the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after acquiring an additional 8,420 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. KeyCorp reduced their price target on Synopsys from $660.00 to $590.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. JPMorgan Chase & Co. reduced their price target on Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Piper Sandler reduced their price target on Synopsys from $660.00 to $630.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Mizuho reduced their price objective on shares of Synopsys from $700.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Finally, Wall Street Zen lowered shares of Synopsys from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, Synopsys presently has an average rating of "Hold" and an average price target of $575.31.

Synopsys Stock Up 2.1%

Shares of SNPS opened at $448.00 on Tuesday. The firm has a market cap of $83.22 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 4.84 and a beta of 1.10. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company's 50-day moving average price is $540.25 and its 200 day moving average price is $511.06. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The business's revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.43 earnings per share. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Transactions at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $500.90, for a total value of $4,945,385.70. Following the completion of the transaction, the chief accounting officer directly owned 20,520 shares of the company's stock, valued at $10,278,468. The trade was a 32.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert G. Painter bought 350 shares of the company's stock in a transaction on Thursday, September 11th. The stock was purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the transaction, the director owned 2,291 shares in the company, valued at $974,683.04. This represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In 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 insiders.

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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