Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Truvestments Capital LLC

Truvestments Capital LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 952 shares of the semiconductor company’s stock after purchasing an additional 233 shares during the quarter. Truvestments Capital LLC’s holdings in Synopsys were worth $482,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB purchased a new stake in shares of Synopsys in the first quarter worth about $1,051,637,000. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the third quarter valued at approximately $633,469,000. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the second quarter worth $572,050,000. Edgewood Management LLC boosted its stake in shares of 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. Finally, Van ECK Associates Corp grew its holdings 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 purchasing an additional 335,993 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $561.87 on Tuesday. The business’s fifty day moving average price is $522.05 and its two-hundred day moving average price is $545.71. The firm has a market capitalization of $86.31 billion, a PE ratio of 58.29, a P/E/G ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Analyst Ratings Changes

A number of research firms have weighed in on SNPS. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler cut their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on shares of Synopsys in a report on Friday. They set an “equal weight” rating and a $570.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

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.