Thematics Asset Management Buys 21,912 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Thematics Asset Management boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 18.4% in the third quarter, HoldingsChannel.com reports. The fund owned 140,869 shares of the semiconductor company’s stock after purchasing an additional 21,912 shares during the period. Synopsys makes up about 2.8% of Thematics Asset Management’s investment portfolio, making the stock its 3rd biggest position. Thematics Asset Management’s holdings in Synopsys were worth $71,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Silvercrest Asset Management Group LLC boosted its stake in shares of Synopsys by 13.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock worth $2,332,000 after acquiring an additional 488 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Synopsys by 39.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $914,000 after buying an additional 453 shares during the last quarter. Tidal Investments LLC raised its position in shares of Synopsys by 3.2% in the first quarter. Tidal Investments LLC now owns 6,833 shares of the semiconductor company’s stock valued at $3,905,000 after buying an additional 215 shares during the last quarter. Comerica Bank lifted its stake in shares of Synopsys by 5.6% in the first quarter. Comerica Bank now owns 33,770 shares of the semiconductor company’s stock worth $19,300,000 after buying an additional 1,787 shares in the last quarter. Finally, LBP AM SA boosted its position in Synopsys by 9.9% during the first quarter. LBP AM SA now owns 11,573 shares of the semiconductor company’s stock worth $6,614,000 after acquiring an additional 1,042 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Wells Fargo & Company began coverage on shares of Synopsys in a research report on Friday. They set an “equal weight” rating and a $570.00 price target on the stock. Finally, Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Stock Down 0.8 %

Shares of SNPS traded down $4.31 during trading on Tuesday, reaching $557.56. 114,712 shares of the company traded hands, compared to its average volume of 1,049,417. The stock has a 50-day simple moving average of $522.05 and a 200-day simple moving average of $545.71. The stock has a market cap of $85.65 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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.