Northcape Capital Pty Ltd Makes New $1.31 Million Investment in Synopsys, Inc. (NASDAQ:SNPS)

Northcape Capital Pty Ltd purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,692 shares of the semiconductor company’s stock, valued at approximately $1,307,000. Synopsys comprises approximately 0.2% of Northcape Capital Pty Ltd’s holdings, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Green Alpha Advisors LLC increased its stake in Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Synopsys by 1.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC boosted its stake in shares of Synopsys by 2.8% in the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 22 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Synopsys by 6.1% in the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on SNPS shares. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Wells Fargo & Company initiated coverage on Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price for the company. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $649.00.

Synopsys Stock Performance

SNPS opened at $487.62 on Wednesday. The stock has a market capitalization of $75.38 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The business’s 50-day simple moving average is $525.02 and its 200-day simple moving average is $531.02.

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.