Synopsys (NASDAQ:SNPS) Coverage Initiated at Mizuho

Equities research analysts at Mizuho assumed coverage on shares of Synopsys (NASDAQ:SNPS) in a research note issued on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $650.00 price target on the semiconductor company’s stock. Mizuho’s target price would suggest a potential upside of 28.56% from the company’s current price.

Other research analysts have also issued reports about the stock. Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $644.55.

Synopsys Price Performance

NASDAQ:SNPS opened at $505.59 on Tuesday. Synopsys has a 1-year low of $448.91 and a 1-year high of $629.38. The firm has a 50 day simple moving average of $511.71 and a 200-day simple moving average of $547.12. The firm has a market cap of $77.66 billion, a PE ratio of 52.45, a P/E/G ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $2.17 EPS. As a group, sell-side analysts expect that Synopsys will post 9.45 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of SNPS. ORG Partners LLC boosted its holdings in Synopsys by 600.0% in the second 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 last quarter. Chris Bulman Inc acquired a new stake in shares of Synopsys during the second quarter worth approximately $30,000. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the third quarter worth $25,000. Tsfg LLC raised its holdings in 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 Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

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.