Mesirow Financial Investment Management Inc. Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Mesirow Financial Investment Management Inc. acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 341 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other hedge funds also recently bought and sold shares of SNPS. Swedbank AB purchased a new stake in shares of Synopsys in the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD raised its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its position in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Synopsys in the 2nd quarter worth approximately $572,050,000. Finally, Capital World Investors increased its holdings in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.3 %

Shares of SNPS opened at $495.95 on Thursday. The stock has a market capitalization of $75.99 billion, a P/E ratio of 53.91, a PEG ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38. The firm has a fifty day simple moving average of $530.00 and a two-hundred day simple moving average of $557.62.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Robert W. Baird boosted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $630.09.

Insider Buying and Selling

In other news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 over the last quarter. 0.66% of the stock is 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.