First Citizens Bank & Trust Co. Acquires 2,884 Shares of Synopsys, Inc. $SNPS

First Citizens Bank & Trust Co. acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, HoldingsChannel reports. The institutional investor acquired 2,884 shares of the semiconductor company’s stock, valued at approximately $1,254,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Synopsys in the 2nd quarter valued at $747,400,000. Man Group plc acquired a new stake in shares of Synopsys during the second quarter worth $55,900,000. Nykredit A S acquired a new stake in shares of Synopsys during the second quarter worth $23,158,000. Bank of America Corp DE acquired a new stake in shares of Synopsys during the second quarter worth $539,986,000. Finally, Integrated Wealth Concepts LLC grew its position in shares of Synopsys by 88.6% in the second quarter. Integrated Wealth Concepts LLC now owns 6,816 shares of the semiconductor company’s stock valued at $3,040,000 after purchasing an additional 3,202 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $468.11 on Friday. The company’s fifty day simple moving average is $426.79 and its 200-day simple moving average is $441.42. Synopsys, Inc. has a 52 week low of $362.55 and a 52 week high of $539.48. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The company has a market cap of $89.71 billion, a PE ratio of 82.71, a P/E/G ratio of 1.96 and a beta of 1.21.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.24. Synopsys had a net margin of 11.43% and a return on equity of 6.24%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the company earned $3.39 EPS. The firm’s revenue was up 42.4% on a year-over-year basis. Synopsys has set its Q4 2026 guidance at 4.100-4.160 EPS and its FY 2026 guidance at 15.040-15.100 EPS. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.97 EPS for the current year.

Synopsys declared that its Board of Directors has approved a share buyback plan on Monday, October 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 1.1% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 14,604 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $374.88, for a total transaction of $5,474,747.52. Following the sale, the chief executive officer directly owned 76,865 shares in the company, valued at approximately $28,815,151.20. This trade represents a 15.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sudhindra Kankanwadi sold 9,170 shares of Synopsys stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $500.00, for a total transaction of $4,585,000.00. Following the sale, the chief financial officer owned 22,717 shares in the company, valued at $11,358,500. This represents a 28.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 102,559 shares of company stock valued at $44,607,141. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNPS shares. Needham & Company LLC upped their price objective on shares of Synopsys from $580.00 to $620.00 and gave the company a “buy” rating in a research note on Monday. Bank of America raised their target price on shares of Synopsys from $500.00 to $600.00 in a research report on Thursday, October 1st. Wells Fargo & Company boosted their target price on shares of Synopsys from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $640.00 target price (up from $590.00) on shares of Synopsys in a report on Thursday, October 1st. Finally, Rothschild & Co Redburn dropped their price target on shares of Synopsys from $560.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $571.78.

Synopsys Company Profile

Synopsys, Inc is a technology company that develops electronic design automation (EDA) software, semiconductor intellectual property (IP), and software tools used to design, verify, and manufacture advanced electronic systems. Its solutions support the development of semiconductors, systems-on-chip, and electronic products across the design cycle, from initial specification and architecture through testing and production.

The company’s offerings include digital and custom integrated-circuit design tools, simulation and verification software, physical design and signoff products, and semiconductor IP such as processor cores, interface technologies, and foundational components.