Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Baldwin Investment Management LLC

Baldwin Investment Management LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 124.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,151 shares of the semiconductor company’s stock after acquiring an additional 2,860 shares during the period. Baldwin Investment Management LLC’s holdings in Synopsys were worth $2,608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SNPS. Edgewood Management LLC increased its position in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Swedbank AB increased its holdings in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the period. Van ECK Associates Corp raised its stake in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares in the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter worth about $633,469,000. Finally, Vontobel Holding Ltd. grew its position in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after buying an additional 43,228 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $553.95 on Wednesday. The stock’s 50-day moving average is $523.08 and its two-hundred day moving average is $545.69. The stock has a market cap of $85.09 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNPS shares. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $644.36.

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.