Healthcare of Ontario Pension Plan Trust Fund Purchases 21,304 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 150.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 35,434 shares of the semiconductor company’s stock after buying an additional 21,304 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Synopsys were worth $17,943,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNPS. Parnassus Investments LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at $633,469,000. Sustainable Growth Advisers LP bought a new stake in shares of Synopsys in the 2nd quarter valued at $572,050,000. Edgewood Management LLC increased its position in shares of 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 buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Synopsys by 120.2% in the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after buying an additional 267,836 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $653.80.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $547.74 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market capitalization of $84.14 billion, a P/E ratio of 56.82, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The company has a 50-day simple moving average of $524.79 and a 200 day simple moving average of $545.72.

Synopsys Company 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.