Synopsys (NASDAQ:SNPS) Given New $600.00 Price Target at Mizuho

Synopsys (NASDAQ:SNPS) had its target price decreased by Mizuho from $650.00 to $600.00 in a research report sent to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $623.17.

Synopsys Stock Performance

Shares of SNPS stock opened at $425.65 on Tuesday. The firm has a fifty day moving average of $453.23 and a 200-day moving average of $496.88. The stock has a market cap of $65.81 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys has a 52-week low of $365.74 and a 52-week high of $624.80.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Synopsys

Several large investors have recently made changes to their positions in SNPS. Nordea Investment Management AB raised its holdings in Synopsys by 15.9% during the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock worth $509,261,000 after purchasing an additional 143,284 shares during the last quarter. James Hambro & Partners LLP grew its position in shares of Synopsys by 30.9% during the 4th quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after buying an additional 47,527 shares during the period. Synovus Financial Corp raised its stake in shares of Synopsys by 199.2% during the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock worth $7,627,000 after buying an additional 10,028 shares during the last quarter. Janney Capital Management LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $6,082,000. Finally, Artemis Investment Management LLP boosted its stake in Synopsys by 4.5% in the fourth quarter. Artemis Investment Management LLP now owns 24,878 shares of the semiconductor company’s stock valued at $12,075,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

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.