iA Global Asset Management Inc. Has $18.59 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

iA Global Asset Management Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,709 shares of the semiconductor company’s stock after purchasing an additional 1,914 shares during the period. iA Global Asset Management Inc.’s holdings in Synopsys were worth $18,589,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter worth approximately $633,469,000. Sustainable Growth Advisers LP bought a new position in Synopsys in the 2nd quarter worth approximately $572,050,000. Edgewood Management LLC increased its stake 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 during the period. Van ECK Associates Corp raised its position 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 worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNPS shares. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday. Piper Sandler decreased their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company initiated coverage on shares of Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target on the stock. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Finally, Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $517.28 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. 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 has a 50-day moving average of $529.85 and a 200-day moving average of $545.47.

About Synopsys

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.