In recent news, the Independent Director of Synopsys, Mercedes Johnson, reportedly sold a significant portion of her holding, amounting to an estimated 74%. Despite this, Synopsys, Inc. (NASDAQ:SNPS) seems to have gained investor interest as evidenced by the actions of Cambridge Investment Research Advisors Inc and 9258 Wealth Management LLC, both of which increased their shareholdings. Furthermore, Evoke Wealth LLC has come on board as a new investor. Despite the company's recent dip in the market cap by US$3.7 billion, institutional owners are predicted to ignore this decline in favor of long-term gains. This trend in the stock market is reflected by SNPS's stock rates rising above the 20-day moving average, an indication of potential profitability for investors. Synopsys has also been given a consensus rating of 'Buy' by analysts. In other news, Synopsys has reportedly decided to sell its Software Integrity Business for $2.1B. This transition follows their collaboration with NVIDIA to improve multiple technologies. In the face of these developments, Synopsys had registered a fall larger than the market, with its acquisition by Ansys flagged by the Chinese regulator.
Despite the reported revenue and EPS miss that caused SNPS' stock rates to fall, Synopsys remains favored by institutional owners, who hold up to 88% of the company with the CEO, Sassine Ghazi, selling 10294 shares. The company's second quarter financial results for fiscal year 2024 have been published, reporting double-digit growth in revenue and adjusted profit.
Synopsys SNPS News Analytics from Wed, 29 Nov 2023 08:00:00 GMT to Sun, 02 Jun 2024 14:03:40 GMT -
Rating 7
- Innovation 4
- Information 8
- Rumor 2
