Larson Financial Group LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Larson Financial Group LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398 shares of the semiconductor company’s stock after acquiring an additional 23 shares during the period. Larson Financial Group LLC’s holdings in Synopsys were worth $202,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Edgewood Management LLC increased its stake in Synopsys by 18.9% in the third 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. Swedbank AB grew its holdings in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares during the last quarter. Van ECK Associates Corp raised its stake in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after purchasing an additional 43,228 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $547.74 on Thursday. The company’s 50 day simple moving average is $524.12 and its 200-day simple moving average is $545.71. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $84.14 billion, a PE ratio of 56.82, a P/E/G ratio of 3.43 and a beta of 1.08.

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. Piper Sandler cut their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $653.80.

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.