Sumitomo Life Insurance Co. Decreases Stake in Synopsys, Inc. $SNPS

by · The Cerbat Gem

Sumitomo Life Insurance Co. lowered its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,337 shares of the semiconductor company’s stock after selling 320 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Synopsys were worth $4,274,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock valued at $6,359,747,000 after buying an additional 346,994 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings 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 valued at $1,043,518,000 after buying an additional 673,837 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Synopsys by 6.6% during the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock valued at $863,500,000 after buying an additional 125,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Synopsys by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock valued at $778,928,000 after buying an additional 305,489 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Synopsys by 22.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after buying an additional 313,218 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Morgan Stanley reduced their target price on Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $605.00 target price (down previously from $650.00) on shares of Synopsys in a report on Wednesday, September 10th. Wall Street Zen lowered Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, Wells Fargo & Company reduced their target price on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a report on Wednesday, September 10th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $569.67.

Read Our Latest Analysis on SNPS

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 3,655 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the sale, the chief executive officer owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,894 shares of company stock worth $16,760,783. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS opened at $453.82 on Friday. The company has a market cap of $84.30 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 5.02 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $494.17 and a 200-day moving average price of $514.85. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

Synopsys (NASDAQ:SNPS – Get Free Report) last issued its quarterly 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). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $3.43 EPS. 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 earnings per share for the current fiscal year.

About Synopsys

(Free Report)

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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