BNP Paribas Sells 3,842 Shares of Synopsys, Inc. (NASDAQ:SNPS)

BNP Paribas reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,736 shares of the semiconductor company’s stock after selling 3,842 shares during the quarter. BNP Paribas’ holdings in Synopsys were worth $10,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Edgewood Management LLC boosted its position 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 buying an additional 487,025 shares during the last quarter. Swedbank AB boosted its holdings in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after acquiring an additional 25,999 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the period. Parnassus Investments LLC purchased a new position in shares of Synopsys during the third quarter valued at approximately $633,469,000. Finally, Vontobel Holding Ltd. lifted its position in Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after purchasing an additional 43,228 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 1.4 %

Synopsys stock opened at $553.95 on Wednesday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market capitalization of $85.09 billion, a price-to-earnings ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08. The firm has a 50 day moving average of $523.08 and a 200 day moving average of $545.69.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNPS. Piper Sandler cut their target price 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. Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average 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.