Rakuten Investment Management Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 11,016.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,462 shares of the semiconductor company’s stock after purchasing an additional 34,152 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Synopsys were worth $16,506,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Empirical Asset Management LLC purchased a new stake in shares of Synopsys during the third quarter worth $773,000. China Universal Asset Management Co. Ltd. increased its position in shares of Synopsys by 31.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,810 shares of the semiconductor company’s stock worth $6,957,000 after acquiring an additional 3,575 shares during the period. SeaTown Holdings Pte. Ltd. increased its position in shares of Synopsys by 55.9% during the fourth quarter. SeaTown Holdings Pte. Ltd. now owns 22,300 shares of the semiconductor company’s stock worth $10,475,000 after acquiring an additional 8,000 shares during the period. Vanguard Group Inc. increased its position in shares of Synopsys by 20.7% during the third quarter. Vanguard Group Inc. now owns 18,181,185 shares of the semiconductor company’s stock worth $8,970,415,000 after acquiring an additional 3,120,401 shares during the period. Finally, Norges Bank purchased a new stake in shares of Synopsys during the fourth quarter worth $730,197,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Synopsys Stock Performance
Shares of SNPS stock opened at $454.38 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $474.73 and a 200 day moving average price of $461.19. The company has a market cap of $87.00 billion, a P/E ratio of 105.18, a PEG ratio of 2.67 and a beta of 1.22. Synopsys, Inc. has a 12 month low of $376.18 and a 12 month high of $651.73.
Insider Transactions at Synopsys
In other Synopsys news, CFO Shelagh Glaser sold 3,394 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $450.02, for a total value of $1,527,367.88. Following the completion of the transaction, the chief financial officer owned 14,358 shares in the company, valued at $6,461,387.16. This represents a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.56% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. HSBC lowered Synopsys from a “buy” rating to a “hold” rating and set a $455.00 price objective on the stock. in a research report on Friday, February 20th. Bank of America upped their price objective on Synopsys from $515.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Berenberg Bank set a $633.00 price objective on Synopsys in a research report on Wednesday, May 27th. Rosenblatt Securities upped their price objective on Synopsys from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Citigroup upped their price objective on Synopsys from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $563.81.
Check Out Our Latest Report on SNPS
About Synopsys
Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.
In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.
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