Fintel reports that on October 22, 2024, Mizuho initiated coverage of Synopsys (NasdaqGS:SNPS) with a Outperform recommendation.
Analyst Price Forecast Suggests 29.53% Upside
As of September 25, 2024, the average one-year price target for Synopsys is $654.90/share. The forecasts range from a low of $501.08 to a high of $743.17. The average price target represents an increase of 29.53% from its latest reported closing price of $505.59 / share.
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The projected annual revenue for Synopsys is 6,555MM, an increase of 1.10%. The projected annual non-GAAP EPS is 11.85.
What is the Fund Sentiment?
There are 2,353 funds or institutions reporting positions in Synopsys. This is an decrease of 23 owner(s) or 0.97% in the last quarter. Average portfolio weight of all funds dedicated to SNPS is 0.45%, an increase of 5.42%. Total shares owned by institutions increased in the last three months by 3.17% to 162,143K shares. 
The put/call ratio of SNPS is 1.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 7,395K shares representing 4.81% ownership of the company. In its prior filing, the firm reported owning 7,370K shares , representing an increase of 0.34%. The firm increased its portfolio allocation in SNPS by 2.94% over the last quarter.
Jpmorgan Chase holds 5,917K shares representing 3.85% ownership of the company. In its prior filing, the firm reported owning 5,498K shares , representing an increase of 7.09%. The firm decreased its portfolio allocation in SNPS by 82.96% over the last quarter.
Price T Rowe Associates holds 5,548K shares representing 3.61% ownership of the company. In its prior filing, the firm reported owning 5,338K shares , representing an increase of 3.79%. The firm increased its portfolio allocation in SNPS by 5.66% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,840K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 4,795K shares , representing an increase of 0.93%. The firm increased its portfolio allocation in SNPS by 2.20% over the last quarter.
Franklin Resources holds 3,953K shares representing 2.57% ownership of the company. In its prior filing, the firm reported owning 3,860K shares , representing an increase of 2.36%. The firm decreased its portfolio allocation in SNPS by 82.68% over the last quarter.
Synopsys Background Information
(This description is provided by the company.)
Synopsys, is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products.
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This story originally appeared on Fintel.
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