Vinva Investment Management Ltd Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Vinva Investment Management Ltd lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.2% during the third quarter, HoldingsChannel.com reports. The firm owned 2,950 shares of the semiconductor company’s stock after selling 1,673 shares during the period. Vinva Investment Management Ltd’s holdings in Synopsys were worth $1,514,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. ORG Partners LLC raised its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys during the second quarter valued at about $30,000. Pacifica Partners Inc. acquired a new stake in Synopsys during the third quarter worth about $25,000. Tsfg LLC raised its holdings in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $558.49 on Friday. The firm’s fifty day moving average price is $525.83 and its 200 day moving average price is $545.73. The company has a market capitalization of $85.79 billion, a price-to-earnings ratio of 57.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNPS shares. Wells Fargo & Company began coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Loop Capital started coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $653.80.

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.