Nomura Asset Management Co. Ltd. Purchases 4,919 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nomura Asset Management Co. Ltd. boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,003 shares of the semiconductor company’s stock after purchasing an additional 4,919 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Synopsys were worth $24,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Gotham Asset Management LLC boosted its holdings in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 2,227 shares in the last quarter. abrdn plc boosted its stake in Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Synopsys by 55.5% during the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 1,539 shares during the last quarter. Comerica Bank acquired a new stake in shares of Synopsys in the third quarter valued at $14,203,000. Finally, DNB Asset Management AS raised its holdings in shares of Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after buying an additional 8,259 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SNPS shares. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Robert W. Baird upped their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $616.18.

Synopsys Trading Up 0.2 %

Shares of SNPS stock traded up $1.10 on Friday, reaching $587.40. The company had a trading volume of 725,828 shares, compared to its average volume of 755,899. The stock has a market cap of $89.58 billion, a PE ratio of 63.85, a PEG ratio of 3.43 and a beta of 1.07. The company has a 50-day moving average of $558.67 and a 200-day moving average of $547.28. Synopsys, Inc. has a 12 month low of $409.83 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. Sell-side analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the purchase, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synopsys news, Director Marc N. Casper acquired 750 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roy Vallee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.