Rakuten Securities Inc. Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Rakuten Securities Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 116.2% in the third quarter, Holdings Channel reports. The institutional investor owned 214 shares of the semiconductor company’s stock after acquiring an additional 115 shares during the period. Rakuten Securities Inc.’s holdings in Synopsys were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. ORG Partners LLC raised its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys in the 2nd quarter worth $30,000. Pacifica Partners Inc. bought a new stake in Synopsys during the third quarter valued at about $25,000. Tsfg LLC lifted its position in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNPS. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Loop Capital started coverage on shares of Synopsys in a report on Monday. They issued a “buy” rating and a $675.00 price target on the stock. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $649.82.

Synopsys Price Performance

SNPS stock opened at $553.47 on Wednesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s 50-day moving average is $508.51 and its 200 day moving average is $545.23. The company has a market capitalization of $85.02 billion, a PE ratio of 57.41, a P/E/G ratio of 3.39 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.17 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS 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.