Royal London Asset Management Ltd. Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Royal London Asset Management Ltd. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,159 shares of the semiconductor company’s stock after purchasing an additional 2,333 shares during the period. Royal London Asset Management Ltd. owned about 0.11% of Synopsys worth $83,128,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. ORG Partners LLC increased its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys during the second quarter valued at approximately $30,000. Pacifica Partners Inc. purchased a new position in shares of Synopsys during the third quarter valued at approximately $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Synopsys during the second quarter valued at approximately $40,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNPS. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Piper Sandler dropped their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $653.80.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $588.00 on Thursday. The company has a market cap of $90.32 billion, a P/E ratio of 61.00, a PEG ratio of 3.48 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock’s fifty day moving average price is $529.85 and its 200-day moving average price is $545.69.

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.