Mirae Asset Global Investments Co. Ltd. Has $76.29 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,795 shares of the semiconductor company's stock after acquiring an additional 16,187 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Synopsys worth $76,285,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SNPS. Ameriflex Group Inc. bought a new stake in Synopsys during the fourth quarter worth approximately $29,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys during the 4th quarter worth $34,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after buying an additional 33 shares during the period. Institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Price Performance

SNPS traded up $6.93 during midday trading on Friday, reaching $502.63. 2,153,499 shares of the company's stock were exchanged, compared to its average volume of 1,164,250. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $77.99 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.27 and a beta of 1.11. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The business has a 50-day simple moving average of $479.33 and a two-hundred day simple moving average of $477.58.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the business earned $3.00 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last ninety days. Insiders own 0.62% of the company's stock.

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.