WealthPLAN Partners LLC Trims Stock Position in Synopsys, Inc. $SNPS

Key Points

• WealthPLAN Partners LLC has reduced its stake in Synopsys, Inc. by 37.3%, selling 932 shares to hold a total of 1,564 shares valued at approximately $802,000.
• In contrasting actions, multiple hedge funds have increased their positions in Synopsys during the same quarter, with WealthPlan Investment Management LLC raising its stake by 27.7% to hold shares worth around $2.78 million.
• Synopsys reported earnings of $2.30 per share for the last quarter, which fell short of analysts' expectations of $3.75, while revenue reached $1.74 billion, slightly below estimates of $1.77 billion.

WealthPLAN Partners LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 37.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,564 shares of the semiconductor company's stock after selling 932 shares during the quarter. WealthPLAN Partners LLC's holdings in Synopsys were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $540,000. WealthPlan Investment Management LLC increased its position in shares of Synopsys by 27.7% during the 2nd quarter. WealthPlan Investment Management LLC now owns 5,426 shares of the semiconductor company's stock valued at $2,782,000 after purchasing an additional 1,177 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Synopsys by 6.0% during the 2nd quarter. Mutual Advisors LLC now owns 1,133 shares of the semiconductor company's stock valued at $581,000 after purchasing an additional 64 shares during the last quarter. Curated Wealth Partners LLC purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $202,000. Finally, Harbour Investments Inc. increased its position in shares of Synopsys by 10.6% during the 2nd quarter. Harbour Investments Inc. now owns 260 shares of the semiconductor company's stock valued at $133,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other Synopsys news, Director Robert G. Painter bought 350 shares of the business's stock in a transaction that occurred 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 acquisition, the director owned 2,291 shares in the company, valued at $974,683.04. This trade represents a 18.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total transaction 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 approximately $10,278,468. This trade represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,894 shares of company stock valued at $16,760,783 over the last quarter. 0.62% of the stock is owned by insiders.

Synopsys Trading Down 1.8%

Shares of SNPS opened at $435.90 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The company has a 50 day simple moving average of $532.75 and a two-hundred day simple moving average of $510.07. The firm has a market cap of $80.97 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 4.89 and a beta of 1.10.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the business earned $3.43 earnings per share. The company's quarterly 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. On average, equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $605.00 price target (down previously from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. The Goldman Sachs Group reduced their target price on shares of Synopsys from $700.00 to $600.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Bank of America reissued an "underperform" rating and issued a $525.00 target price (down from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Wells Fargo & Company reduced their target price on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating for the company in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating for the company in a report on Wednesday, September 10th. Ten 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 stock. According to data from MarketBeat, Synopsys has an average rating of "Hold" and a consensus price target of $569.67.

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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