Sanctuary Advisors LLC Invests $4.11 Million in Synopsys, Inc. $SNPS

Sanctuary Advisors LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, Holdings Channel reports. The firm purchased 9,217 shares of the semiconductor company’s stock, valued at approximately $4,111,000.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. BlackRock Inc. bought a new position in Synopsys during the second quarter worth $7,228,099,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Synopsys during the second quarter valued at $747,400,000. Norges Bank bought a new stake in Synopsys during the fourth quarter valued at $730,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Synopsys during the second quarter worth $692,074,000. Finally, State Street Corp raised its holdings in shares of Synopsys by 20.6% during the third quarter. State Street Corp now owns 8,760,358 shares of the semiconductor company’s stock worth $4,322,273,000 after purchasing an additional 1,493,912 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS opened at $408.79 on Wednesday. Synopsys, Inc. has a 1 year low of $366.00 and a 1 year high of $615.79. The company has a market cap of $78.28 billion, a price-to-earnings ratio of 94.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a fifty day moving average of $417.74 and a 200-day moving average of $439.85.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.15 by $0.20. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. The company’s quarterly revenue was up 41.9% on a year-over-year basis. As a group, equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $580.00 price target on shares of Synopsys in a report on Thursday, May 28th. Berenberg Bank set a $633.00 price objective on shares of Synopsys in a research note on Wednesday, May 27th. Zacks Research cut shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Robert W. Baird set a $558.00 target price on Synopsys in a research note on Thursday, May 28th. Finally, Wells Fargo & Company lowered their target price on Synopsys from $535.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $563.59.

Insider Transactions at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the completion of the transaction, the chief financial officer directly owned 14,358 shares of the company’s stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the completion of the transaction, the chief executive officer owned 75,020 shares of the company’s stock, valued at approximately $34,431,179.20. This trade represents a 16.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.56% of the company’s stock.

Synopsys Profile

Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.

In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.