Chevy Chase Trust Holdings LLC Increases Stake in Synopsys, Inc. $SNPS

Chevy Chase Trust Holdings LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 81,971 shares of the semiconductor company’s stock after acquiring an additional 600 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Synopsys were worth $42,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Cornerstone Planning Group LLC boosted its position in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Saudi Central Bank bought a new position in shares of Synopsys during the 1st quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 53 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Synopsys by 120.0% during the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Synopsys during the 1st quarter valued at approximately $34,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the sale, the chief executive officer directly owned 71,615 shares in the company, valued at approximately $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction on 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 sale, the chief accounting officer 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 in the last three months. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. Rosenblatt Securities reiterated a “neutral” rating and set a $605.00 target price (down from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. JPMorgan Chase & Co. lowered their target price on Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Citigroup downgraded Synopsys from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 10th. Mizuho lowered their target price on Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. Finally, KeyCorp lowered their price target on Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Ten investment 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $569.67.

Synopsys Stock Up 1.7%

Shares of SNPS opened at $447.64 on Friday. The company has a market cap of $83.15 billion, a PE ratio of 35.14, a P/E/G ratio of 4.85 and a beta of 1.10. The business has a fifty day moving average of $525.72 and a 200 day moving average of $510.23. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. 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 (NASDAQ:SNPS) 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 company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business 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 expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Synopsys Company 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.