Hsbc Holdings PLC Boosts Holdings in Synopsys, Inc. $SNPS

Hsbc Holdings PLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 16.3% during the 2nd quarter, Holdings Channel reports. The firm owned 384,396 shares of the semiconductor company’s stock after purchasing an additional 53,984 shares during the quarter. Hsbc Holdings PLC’s holdings in Synopsys were worth $171,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SNPS. Sankala Group LLC purchased a new position in Synopsys in the 4th quarter valued at about $25,000. Elevation Wealth Partners LLC increased its stake in Synopsys by 96.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the semiconductor company’s stock worth $25,000 after buying an additional 27 shares in the last quarter. Osbon Capital Management LLC acquired a new position in shares of Synopsys during the second quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Synopsys during the second quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of Synopsys stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $450.02, for a total transaction of $1,527,367.88. Following the transaction, the chief financial officer directly owned 14,358 shares of the company’s stock, valued at $6,461,387.16. The trade was a 19.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sassine Ghazi sold 14,603 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $458.96, for a total transaction of $6,702,192.88. Following the completion of the transaction, the chief executive officer owned 75,020 shares in the company, valued at $34,431,179.20. The trade was a 16.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.56% of the stock is owned by insiders.

Synopsys Stock Up 3.6%

Shares of SNPS opened at $408.79 on Wednesday. Synopsys, Inc. has a 52-week low of $366.00 and a 52-week high of $615.79. The company has a market capitalization of $78.28 billion, a PE ratio of 94.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.23. The stock has a fifty day simple moving average of $417.74 and a two-hundred day simple moving average of $439.85. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.33.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.20. Synopsys had a net margin of 8.91% and a return on equity of 5.83%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 EPS. The company’s revenue was up 41.9% compared to the same quarter last year. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Upgrades and Downgrades

SNPS has been the subject of several recent research reports. Berenberg Bank set a $633.00 price objective on Synopsys in a research note on Wednesday, May 27th. Bank of America upped their target price on shares of Synopsys from $515.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Synopsys in a research note on Monday, June 8th. KeyCorp restated an “overweight” rating on shares of Synopsys in a research report on Wednesday, August 19th. Finally, BNP Paribas Exane upped their price objective on shares of Synopsys from $425.00 to $450.00 and gave the company an “underperform” rating in a research note on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $563.59.

Synopsys Profile

Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.

In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.