Eastern Bank Reduces Stock Position in Synopsys, Inc. $SNPS

Eastern Bank trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,325 shares of the semiconductor company’s stock after selling 150 shares during the period. Eastern Bank’s holdings in Synopsys were worth $1,192,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Synopsys during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Synopsys during the first quarter valued at approximately $34,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were 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 owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert G. Painter acquired 350 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $425.44 per share, with a total value of $148,904.00. Following the transaction, the director owned 2,291 shares in the company, valued at approximately $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 30,894 shares of company stock worth $16,760,783. Company insiders own 0.62% of the company’s stock.

Synopsys Trading Down 9.4%

NASDAQ:SNPS opened at $438.92 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The company has a market cap of $81.53 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 4.84 and a beta of 1.10. The company has a 50 day simple moving average of $544.01 and a two-hundred day simple moving average of $510.54.

Synopsys (NASDAQ:SNPS) last posted 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). Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $3.43 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. Research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNPS. KeyCorp lowered their target price on shares of Synopsys from $660.00 to $590.00 and set an “overweight” rating for the company in a report on Wednesday, September 10th. Stifel Nicolaus decreased their price objective on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Needham & Company LLC decreased their price objective on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. BNP Paribas started coverage on shares of Synopsys in a report on Thursday, October 2nd. They issued an “underperform” rating and a $425.00 price objective for the company. Finally, Baird R W lowered shares of Synopsys from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Hold” and a consensus price target of $575.31.

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.