120 Shares in Synopsys, Inc. (NASDAQ:SNPS) Acquired by Mizuho Bank Ltd.

Mizuho Bank Ltd. acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 120 shares of the semiconductor company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares in the last quarter. State Street Corp lifted its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after buying an additional 75,298 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Synopsys by 3.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after acquiring an additional 60,121 shares in the last quarter. Finally, Norges Bank purchased a new stake in Synopsys in the fourth quarter valued at $583,608,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on SNPS. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Piper Sandler cut their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Trading Down 7.1 %

Shares of SNPS opened at $388.13 on Friday. The stock’s 50 day moving average is $473.83 and its two-hundred day moving average is $503.08. Synopsys, Inc. has a twelve month low of $387.41 and a twelve month high of $624.80. The firm has a market capitalization of $60.01 billion, a PE ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.16.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following 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 have sold a total of 47,909 shares of company stock worth $22,794,835 over the last three months. 0.62% of the stock is currently owned by corporate insiders.

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.