PNC Financial Services Group Inc. Purchases 4,670 Shares of Synopsys, Inc. $SNPS

PNC Financial Services Group Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 17.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 32,006 shares of the semiconductor company’s stock after acquiring an additional 4,670 shares during the period. PNC Financial Services Group Inc.’s holdings in Synopsys were worth $16,409,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Synopsys by 23.4% in the 1st quarter. Stephens Inc. AR now owns 2,053 shares of the semiconductor company’s stock valued at $880,000 after acquiring an additional 389 shares in the last quarter. Dakota Wealth Management increased its position in shares of Synopsys by 7.5% in the first quarter. Dakota Wealth Management now owns 961 shares of the semiconductor company’s stock valued at $412,000 after acquiring an additional 67 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Synopsys by 80.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 162 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 72 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in Synopsys by 6.7% during the first quarter. Wealthfront Advisers LLC now owns 12,375 shares of the semiconductor company’s stock worth $5,307,000 after acquiring an additional 776 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of Synopsys stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares of the company’s stock, valued at approximately $10,278,468. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 3,655 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the completion of the sale, the chief financial officer directly owned 15,317 shares of the company’s stock, valued at approximately $9,339,847.09. The trade was a 19.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,894 shares of company stock valued at $16,760,783. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $389.83 on Friday. The stock 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. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. The firm has a 50-day moving average of $454.97 and a 200-day moving average of $512.87. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($1.45). Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $3.43 earnings per share. The firm’s revenue was up 14.0% compared to the same quarter last year. 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.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. BNP Paribas assumed coverage on Synopsys in a research report on Thursday, October 2nd. They set an “underperform” rating and a $425.00 price target on the stock. Mizuho dropped their price target on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Citigroup cut shares of Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 10th. Morgan Stanley lowered their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Finally, Needham & Company LLC cut their target price on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Synopsys has a consensus rating of “Hold” and a consensus price target of $562.14.

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.