Rakuten Securities Inc. Takes $651,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Rakuten Securities Inc. purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,265 shares of the semiconductor company’s stock, valued at approximately $651,000.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in Synopsys by 2.6% in the first quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock valued at $2,510,213,000 after buying an additional 166,992 shares during the period. FMR LLC boosted its position in shares of Synopsys by 8.9% during the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Synopsys by 1.6% during the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock worth $1,250,869,000 after purchasing an additional 52,624 shares in the last quarter. Norges Bank bought a new position in shares of Synopsys during the fourth quarter worth $891,507,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Synopsys by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock worth $686,556,000 after purchasing an additional 133,703 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SNPS shares. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Piper Sandler initiated coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has a consensus rating of “Buy” and an average target price of $601.00.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock traded down $5.65 during trading hours on Wednesday, reaching $535.44. The company’s stock had a trading volume of 466,503 shares, compared to its average volume of 1,234,544. The stock’s fifty day simple moving average is $569.50 and its two-hundred day simple moving average is $533.56. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38. The company has a market capitalization of $81.65 billion, a P/E ratio of 59.59, a P/E/G ratio of 3.18 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm earned $1.75 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Synopsys 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.