Mizuho Securities USA LLC Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Mizuho Securities USA LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 171.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,888 shares of the semiconductor company’s stock after acquiring an additional 20,131 shares during the quarter. Mizuho Securities USA LLC’s holdings in Synopsys were worth $16,148,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter worth $239,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Synopsys by 37.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 585 shares of the semiconductor company’s stock valued at $334,000 after purchasing an additional 159 shares in the last quarter. M&G Plc acquired a new stake in shares of Synopsys in the first quarter valued at approximately $1,123,000. Nicolet Advisory Services LLC purchased a new position in shares of Synopsys during the 1st quarter worth approximately $262,000. Finally, Jacobi Capital Management LLC raised its position in shares of Synopsys by 45.3% during the 1st quarter. Jacobi Capital Management LLC now owns 577 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 180 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNPS. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Finally, Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price of $649.82.

Synopsys Trading Down 5.0 %

Shares of SNPS stock opened at $520.75 on Friday. The firm has a fifty day simple moving average of $514.14 and a 200-day simple moving average of $545.35. The company has a market capitalization of $79.99 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Synopsys Company 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.