Mizuho Securities USA LLC Purchases 20,131 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mizuho Securities USA LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 171.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,888 shares of the semiconductor company's stock after buying an additional 20,131 shares during the quarter. Mizuho Securities USA LLC's holdings in Synopsys were worth $16,148,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SNPS. Capital World Investors lifted its stake in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock valued at $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company's stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. GQG Partners LLC increased its stake in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Swedbank AB boosted its position in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company's stock worth $1,110,461,000 after buying an additional 25,999 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock worth $791,923,000 after buying an additional 335,993 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 62,568 shares of the company's stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNPS has been the topic of several recent analyst reports. Piper Sandler cut their target price on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price target for the company. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of "Buy" and an average target price of $649.82.

Synopsys Stock Down 5.0 %

Shares of SNPS traded down $27.56 during midday trading on Friday, reaching $520.75. 1,025,738 shares of the stock were exchanged, compared to its average volume of 846,867. The company has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a 50 day simple moving average of $514.14 and a 200-day simple moving average of $545.35.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.