Mizuho Securities USA LLC Sells 1,822 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mizuho Securities USA LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,935 shares of the semiconductor company’s stock after selling 1,822 shares during the period. Mizuho Securities USA LLC’s holdings in Synopsys were worth $5,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNPS. ORG Partners LLC grew its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new position in shares of Synopsys in the 3rd quarter worth approximately $25,000. Tsfg LLC lifted its stake in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc bought a new stake in shares of Synopsys during the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 3.0 %

Synopsys stock opened at $557.73 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market cap of $85.67 billion, a P/E ratio of 57.86, a P/E/G ratio of 3.26 and a beta of 1.08. The business has a 50-day simple moving average of $519.28 and a two-hundred day simple moving average of $545.55.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.17 earnings per share. Research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNPS. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. JPMorgan Chase & Co. upped their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Robert W. Baird upped their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $649.82.

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.