Midwest Trust Co Acquires Shares of 34,244 Synopsys, Inc. $SNPS

Midwest Trust Co bought a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,244 shares of the semiconductor company’s stock, valued at approximately $17,556,000.

Several other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky boosted its stake in 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. Saudi Central Bank acquired a new stake in Synopsys during the 1st quarter valued at $26,000. Princeton Global Asset Management LLC raised its stake in Synopsys by 481.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 53 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% in 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 in the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Synopsys by 423.1% in the second quarter. AlphaQuest LLC now owns 68 shares of the semiconductor company’s stock worth $35,000 after buying an additional 55 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 0.7%

Shares of NASDAQ:SNPS opened at $393.43 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. The stock has a market capitalization of $73.08 billion, a PE ratio of 30.88, a P/E/G ratio of 5.02 and a beta of 1.10. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The firm has a fifty day moving average price of $475.14 and a 200 day moving average price of $514.87.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share 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 return on equity of 10.82% and a net margin of 31.04%.Synopsys’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $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. Analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert G. Painter acquired 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of $425.44 per share, for a total transaction of $148,904.00. Following the completion of the purchase, the director owned 2,291 shares of the company’s stock, valued at $974,683.04. This represents a 18.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’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 transaction, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,894 shares of company stock worth $16,760,783 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler lowered their price target on Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Wells Fargo & Company decreased their price objective on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Synopsys in a report on Wednesday, October 8th. The Goldman Sachs Group reduced 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. Finally, Mizuho decreased their price target on shares of Synopsys from $700.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $569.67.

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.