Synopsys, Inc. (NASDAQ:SNPS) Holdings Lifted by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,720 shares of the semiconductor company’s stock after buying an additional 745 shares during the period. Blue Trust Inc.’s holdings in Synopsys were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter valued at approximately $633,469,000. Edgewood Management LLC increased its position in shares of Synopsys by 18.9% during 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 purchasing an additional 487,025 shares during the period. Van ECK Associates Corp raised its stake in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares in the last quarter. Impax Asset Management Group plc boosted its stake in 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 buying an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Synopsys by 32.5% during the third quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after acquiring an additional 257,526 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNPS. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Piper Sandler reduced their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $641.82.

Insider Activity

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS opened at $510.73 on Tuesday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company has a market capitalization of $78.95 billion, a PE ratio of 35.17, a PEG ratio of 3.57 and a beta of 1.12. The company’s 50 day moving average price is $518.68 and its 200 day moving average price is $522.91.

Synopsys 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.