Castleark Management LLC Reduces Position in Synopsys, Inc. (NASDAQ:SNPS)

Castleark Management LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,447 shares of the semiconductor company’s stock after selling 485 shares during the period. Synopsys comprises approximately 0.6% of Castleark Management LLC’s portfolio, making the stock its 27th largest position. Castleark Management LLC’s holdings in Synopsys were worth $15,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. iA Global Asset Management Inc. boosted its position in shares of Synopsys by 5.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 36,709 shares of the semiconductor company’s stock worth $18,589,000 after acquiring an additional 1,914 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Synopsys by 36.6% during the third quarter. EP Wealth Advisors LLC now owns 2,041 shares of the semiconductor company’s stock worth $1,033,000 after purchasing an additional 547 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Synopsys by 32.5% in the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares in the last quarter. Wahed Invest LLC raised its holdings in Synopsys by 11.6% during the third quarter. Wahed Invest LLC now owns 3,694 shares of the semiconductor company’s stock worth $1,871,000 after purchasing an additional 385 shares in the last quarter. Finally, Taika Capital LP raised its holdings in Synopsys by 8.5% during the third quarter. Taika Capital LP now owns 9,546 shares of the semiconductor company’s stock worth $4,834,000 after purchasing an additional 744 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.4 %

NASDAQ SNPS opened at $517.28 on Friday. The stock has a market capitalization of $79.46 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 3.59 and a beta of 1.08. The business’s 50 day moving average is $529.85 and its two-hundred day moving average is $545.47. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $649.00.

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.