Board of the Pension Protection Fund Invests $1.02 Million in Synopsys, Inc. (NASDAQ:SNPS)

Board of the Pension Protection Fund acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,100 shares of the semiconductor company’s stock, valued at approximately $1,019,000. Synopsys makes up 1.2% of Board of the Pension Protection Fund’s holdings, making the stock its 21st biggest position.

A number of other hedge funds have also added to or reduced their stakes in SNPS. State Street Corp lifted its stake in Synopsys by 1.7% in the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the period. Geode Capital Management LLC lifted its position in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the period. Edgewood Management LLC boosted its stake in shares of Synopsys by 18.9% during 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 in the last quarter. Van ECK Associates Corp increased its holdings in Synopsys by 26.5% during the third 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 period. Finally, Parnassus Investments LLC bought a new position in Synopsys in the third quarter worth approximately $633,469,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Piper Sandler dropped their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Wells Fargo & Company dropped their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS stock opened at $490.36 on Wednesday. The company has a market capitalization of $75.80 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company’s 50 day moving average price is $522.21 and its two-hundred day moving average price is $527.43.

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.