Capital Research Global Investors cut its stake in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,894,955 shares of the semiconductor company’s stock after selling 629,557 shares during the period. Capital Research Global Investors owned approximately 0.99% of Synopsys worth $890,105,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Synopsys in the 4th quarter valued at about $28,000. Oakworth Capital Inc. boosted its stake in shares of Synopsys by 3,700.0% in the 4th quarter. Oakworth Capital Inc. now owns 76 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Synopsys in the 3rd quarter valued at about $38,000. N.E.W. Advisory Services LLC boosted its stake in shares of Synopsys by 128.6% in the 4th quarter. N.E.W. Advisory Services LLC now owns 80 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 45 shares during the last quarter. Finally, WealthCollab LLC boosted its stake in shares of Synopsys by 110.8% in the 3rd quarter. WealthCollab LLC now owns 78 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 41 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.
Synopsys Stock Performance
Synopsys stock opened at $464.85 on Monday. The business has a 50 day moving average of $466.55 and a 200-day moving average of $458.28. Synopsys, Inc. has a 1 year low of $376.18 and a 1 year high of $651.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.32. The company has a market capitalization of $89.01 billion, a P/E ratio of 107.60, a P/E/G ratio of 2.71 and a beta of 1.22.
Analyst Upgrades and Downgrades
SNPS has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of Synopsys from $515.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. BNP Paribas Exane lifted their price objective on shares of Synopsys from $425.00 to $450.00 and gave the stock an “underperform” rating in a research note on Thursday, May 28th. Citigroup lifted their price objective on shares of Synopsys from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Needham & Company LLC reissued a “buy” rating and set a $580.00 price objective on shares of Synopsys in a research note on Thursday, May 28th. Finally, Rosenblatt Securities lifted their price objective on shares of Synopsys from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Synopsys has a consensus rating of “Hold” and an average target price of $563.81.
About Synopsys
Synopsys, Inc is a leading provider of electronic design automation (EDA) software and semiconductor intellectual property (IP) used to design, verify and manufacture integrated circuits and complex systems-on-chip (SoCs). Its product portfolio spans tools and technologies for front‑end design and synthesis, simulation and verification, physical implementation and signoff, and design-for-manufacturability, enabling chip designers to move from architecture through tape‑out.
In addition to core EDA offerings, Synopsys supplies a broad set of semiconductor IP building blocks — such as interface, memory and analog/mixed-signal cores — that customers integrate into SoCs to accelerate development.
Read More
- Five stocks we like better than Synopsys
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS – Free Report).
Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.
