Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ascent Group LLC

Ascent Group LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 26.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,056 shares of the semiconductor company’s stock after selling 386 shares during the quarter. Ascent Group LLC’s holdings in Synopsys were worth $535,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Parnassus Investments LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at about $633,469,000. Sustainable Growth Advisers LP bought a new stake in shares of Synopsys during the 2nd quarter valued at about $572,050,000. Edgewood Management LLC grew 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 buying an additional 487,025 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 buying an additional 335,993 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of Synopsys by 120.2% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNPS. Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company began coverage on shares of Synopsys in a research report on Friday, November 22nd. They issued 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $653.80.

Synopsys Price Performance

Synopsys stock opened at $588.00 on Thursday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market capitalization of $90.32 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. The firm has a 50 day simple moving average of $529.85 and a 200-day simple moving average of $545.69.

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.