Floyd Financial Group LLC Takes $647,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Floyd Financial Group LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,313 shares of the semiconductor company’s stock, valued at approximately $647,000.

Other large investors also recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter worth approximately $25,000. Kieckhefer Group LLC purchased a new position in Synopsys in the 4th quarter valued at $27,000. Tsfg LLC boosted its stake in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the third quarter valued at about $44,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 0.6 %

Shares of Synopsys stock opened at $490.36 on Wednesday. The business’s fifty day simple moving average is $522.21 and its 200-day simple moving average is $527.43. The firm has a market cap of $75.80 billion, a PE 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SNPS shares. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Redburn Atlantic began coverage on Synopsys in a report on Monday. They set a “buy” rating and a $600.00 target price on the stock. Piper Sandler cut their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Finally, Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $641.82.

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.