Fifth Third Wealth Advisors LLC Sells 65 Shares of Synopsys, Inc. $SNPS

Fifth Third Wealth Advisors LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,407 shares of the semiconductor company’s stock after selling 65 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Synopsys were worth $721,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $605.00 price target (down previously from $650.00) on shares of Synopsys in a research report on Wednesday, September 10th. KeyCorp lowered their price target on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. The Goldman Sachs Group lowered their price target on shares of Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Piper Sandler lowered their price target on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating for the company in a research report on Wednesday, September 10th. Finally, Needham & Company LLC decreased their target price on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $575.31.

Synopsys Trading Down 9.4%

NASDAQ:SNPS opened at $438.92 on Monday. The firm has a 50 day moving average of $544.01 and a 200 day moving average of $510.99. The stock has a market capitalization of $81.53 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 4.84 and a beta of 1.10. 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 posted 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 analysts’ expectations of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior 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, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, 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 of the company’s stock, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s 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 transaction, the chief executive officer directly owned 71,615 shares of the company’s stock, valued at approximately $42,181,951.15. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,894 shares of company stock worth $16,760,783. Corporate insiders own 0.62% of the company’s stock.

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.