diff --git a/sysutils/squashfs-tools-ng/Makefile b/sysutils/squashfs-tools-ng/Makefile
index 047e95a8421e..5db9a3dfcae9 100644
--- a/sysutils/squashfs-tools-ng/Makefile
+++ b/sysutils/squashfs-tools-ng/Makefile
@@ -1,5 +1,5 @@
 PORTNAME=	squashfs-tools-ng
-PORTVERSION=	1.1.4
+PORTVERSION=	1.2.0
 CATEGORIES=	sysutils
 MASTER_SITES=	https://infraroot.at/pub/squashfs/
 
@@ -14,6 +14,7 @@ LICENSE_FILE=	${WRKSRC}/COPYING.md
 USES=		libtool pkgconfig tar:xz
 GNU_CONFIGURE=	yes
 USE_LDCONFIG=	yes
+INSTALL_TARGET=	install-strip
 TEST_TARGET=	check
 
 OPTIONS_DEFINE=	DOCS LZ4 LZO TOOLS ZSTD
diff --git a/sysutils/squashfs-tools-ng/distinfo b/sysutils/squashfs-tools-ng/distinfo
index 2d16ebd0eedf..839ff9f95889 100644
--- a/sysutils/squashfs-tools-ng/distinfo
+++ b/sysutils/squashfs-tools-ng/distinfo
@@ -1,3 +1,3 @@
-TIMESTAMP = 1648671622
-SHA256 (squashfs-tools-ng-1.1.4.tar.xz) = 6f3f7864f17b250453df31fe3925ce7d1430cf6b1d514112641d734fe3c8f61a
-SIZE (squashfs-tools-ng-1.1.4.tar.xz) = 1311684
+TIMESTAMP = 1670069084
+SHA256 (squashfs-tools-ng-1.2.0.tar.xz) = d736076095d584975640a78cd1554ce15ccbdebdd73d779b7d1ec8004832b7e7
+SIZE (squashfs-tools-ng-1.2.0.tar.xz) = 586992
diff --git a/sysutils/squashfs-tools-ng/pkg-plist b/sysutils/squashfs-tools-ng/pkg-plist
index 49f86c2e02bf..d5701d374288 100644
--- a/sysutils/squashfs-tools-ng/pkg-plist
+++ b/sysutils/squashfs-tools-ng/pkg-plist
@@ -27,7 +27,7 @@ include/sqfs/xattr_writer.h
 lib/libsquashfs.a
 lib/libsquashfs.so
 lib/libsquashfs.so.1
-lib/libsquashfs.so.1.3.0
+lib/libsquashfs.so.1.4.0
 libdata/pkgconfig/libsquashfs1.pc
 %%TOOLS%%man/man1/gensquashfs.1.gz
 %%TOOLS%%man/man1/rdsquashfs.1.gz