VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 17,300 Synopsys, Inc. $SNPS

Key Points

• Virginia Retirement Systems purchased 17,300 shares of Synopsys, Inc. valued at approximately $8.87 million in the second quarter.
• Synopsys reported earnings per share (EPS) of $2.30 for the quarter, missing analysts' expectations of $3.75, while quarterly revenue increased by 14% year-over-year.
• Institutional investors own 85.47% of Synopsys stock, with a consensus rating of "Hold" and a target price of $569.67 from analysts.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,300 shares of the semiconductor company's stock, valued at approximately $8,869,000.

Several other hedge funds have also recently modified their holdings of the stock. Quotient Wealth Partners LLC acquired a new position in shares of Synopsys during the second quarter valued at about $268,000. Chevy Chase Trust Holdings LLC increased its holdings in Synopsys by 0.7% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 81,971 shares of the semiconductor company's stock worth $42,025,000 after buying an additional 600 shares during the period. Angeles Wealth Management LLC acquired a new position in Synopsys in the 2nd quarter worth approximately $478,000. Applied Finance Capital Management LLC increased its holdings in Synopsys by 3.9% in the 2nd quarter. Applied Finance Capital Management LLC now owns 1,931 shares of the semiconductor company's stock worth $990,000 after buying an additional 73 shares during the period. Finally, Mattson Financial Services LLC increased its holdings in Synopsys by 29.6% in the 2nd quarter. Mattson Financial Services LLC now owns 4,260 shares of the semiconductor company's stock worth $2,184,000 after buying an additional 973 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 1.3%

Shares of NASDAQ:SNPS opened at $453.35 on Tuesday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm has a market capitalization of $84.21 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 4.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The business's 50 day moving average price is $522.46 and its 200-day moving average price is $511.84.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.75 by ($1.45). Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business earned $3.43 EPS. The company's quarterly revenue was up 14.0% on a year-over-year basis. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNPS. Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Bank of America reaffirmed an "underperform" rating and set a $525.00 price objective (down previously from $625.00) on shares of Synopsys in a research note on Wednesday, September 10th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $605.00 price objective (down previously from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. Baird R W cut shares of Synopsys from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Synopsys in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $569.67.

Insider Transactions at Synopsys

In other news, Director Robert G. Painter acquired 350 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the acquisition, the director owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This trade represents a 18.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the transaction, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. The trade was a 19.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,894 shares of company stock worth $16,760,783. Company insiders own 0.62% of the company's stock.

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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