Cynosure Group LLC Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Cynosure Group LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 31.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 990 shares of the semiconductor company’s stock after selling 461 shares during the period. Cynosure Group LLC’s holdings in Synopsys were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Davidson Capital Management Inc. boosted its holdings in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after buying an additional 4,736 shares in the last quarter. Swiss National Bank raised its holdings in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Jacobs & Co. CA bought a new stake in Synopsys in the 3rd quarter worth approximately $10,554,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.1 %

Synopsys stock opened at $547.74 on Thursday. The stock has a market cap of $84.14 billion, a P/E ratio of 56.82, a PEG ratio of 3.43 and a beta of 1.08. The company has a 50-day moving average price of $524.12 and a 200 day moving average price of $545.71. 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 have commented on the stock. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and an average target price 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.