Westpac Banking Corp Reduces Stock Holdings in Synopsys, Inc. $SNPS

Westpac Banking Corp cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,275 shares of the semiconductor company’s stock after selling 1,715 shares during the period. Westpac Banking Corp’s holdings in Synopsys were worth $2,704,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. Vanguard Group Inc. lifted its position in shares of Synopsys by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company’s stock worth $6,359,747,000 after purchasing an additional 346,994 shares in the last quarter. Geode Capital Management LLC increased its stake in Synopsys by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,545,892 shares of the semiconductor company’s stock worth $1,810,214,000 after buying an additional 51,043 shares during the period. Ameriprise Financial Inc. lifted its holdings in Synopsys by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $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 boosted its position in Synopsys by 20.2% in 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 during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Synopsys by 22.2% during the first quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after acquiring an additional 313,218 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $389.83 on Friday. The company has a market cap of $72.41 billion, a PE ratio of 30.60, a P/E/G ratio of 5.02 and a beta of 1.10. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The firm has a 50-day simple moving average of $454.97 and a 200 day simple moving average of $513.24. 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 earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm 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 anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. Weiss Ratings reissued a “hold (c)” rating on shares of Synopsys in a report on Wednesday, October 8th. Piper Sandler cut their target price on Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. BNP Paribas assumed coverage on Synopsys in a research note on Thursday, October 2nd. They set an “underperform” rating and a $425.00 target price for the company. Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Finally, Citigroup downgraded shares of Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $562.14.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 3,655 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the transaction, the chief financial officer directly owned 15,317 shares in the company, valued at $9,339,847.09. This represents a 19.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the 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 completion of the sale, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. This represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,894 shares of company stock valued at $16,760,783 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Synopsys 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.