Westwind Capital Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Westwind Capital lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,709 shares of the semiconductor company’s stock after buying an additional 116 shares during the quarter. Synopsys accounts for approximately 2.3% of Westwind Capital’s holdings, making the stock its 20th largest holding. Westwind Capital’s holdings in Synopsys were worth $10,537,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Chris Bulman Inc bought a new stake in shares of Synopsys during the 2nd quarter valued at about $30,000. Pacifica Partners Inc. bought a new position in shares of Synopsys in the third quarter worth $25,000. Tsfg LLC raised its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in Synopsys during the second quarter worth about $51,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SNPS. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. 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 note on Friday, December 6th. Finally, Wells Fargo & Company assumed coverage on shares of Synopsys in a research note 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 ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $649.00.

Synopsys Stock Down 3.0 %

SNPS stock traded down $15.03 during midday trading on Tuesday, reaching $486.03. The stock had a trading volume of 778,178 shares, compared to its average volume of 785,250. The firm has a market cap of $75.13 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The business has a fifty day simple moving average of $525.85 and a two-hundred day simple moving average of $531.85.

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.