Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 32.4% in the third quarter, HoldingsChannel reports. The fund owned 952 shares of the semiconductor company’s stock after purchasing an additional 233 shares during the quarter. Truvestments Capital LLC’s holdings in Synopsys were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. ORG Partners LLC raised its holdings in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the 3rd quarter worth $25,000. Tsfg LLC lifted its holdings in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc bought a new position in Synopsys during the second quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in 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 acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 0.6 %

Shares of SNPS opened at $561.87 on Tuesday. The stock has a 50 day simple moving average of $522.05 and a 200-day simple moving average of $545.71. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market cap of $86.31 billion, a PE ratio of 58.29, a PEG ratio of 3.45 and a beta of 1.08.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company began coverage on Synopsys in a report on Friday. They set an “equal weight” rating and a $570.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Company 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.