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

Rakuten Securities Inc. acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,265 shares of the semiconductor company’s stock, valued at approximately $651,000.

Several other large investors have also made changes to their positions in SNPS. State Street Corp lifted its holdings in Synopsys by 2.6% during 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 purchasing an additional 166,992 shares in the last quarter. FMR LLC lifted its holdings in Synopsys by 8.9% during the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Synopsys by 1.6% during the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after purchasing an additional 52,624 shares in the last quarter. Norges Bank purchased a new position in Synopsys during the fourth quarter valued at $891,507,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in 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 valued at $686,556,000 after purchasing an additional 133,703 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $5.65 during midday trading on Wednesday, hitting $535.44. The company’s stock had a trading volume of 466,503 shares, compared to its average volume of 1,234,544. The business’s fifty day simple moving average is $569.50 and its two-hundred day simple moving average is $533.56. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The firm has a market capitalization of $81.65 billion, a price-to-earnings ratio of 59.59, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

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

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.