Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 43.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 142,585 shares of the semiconductor company’s stock after selling 108,222 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Synopsys were worth $72,204,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC raised 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 valued at $2,332,000 after acquiring an additional 488 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Synopsys by 39.5% during 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 period. Tidal Investments LLC grew its stake in shares of Synopsys by 3.2% during 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 raised its holdings 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 during the period. Finally, LRI Investments LLC bought a new stake in shares of Synopsys during the 1st quarter worth approximately $286,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company initiated coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $653.80.

Synopsys Trading Down 1.1 %

Shares of NASDAQ SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock’s fifty day simple moving average is $524.12 and its two-hundred day simple moving average is $545.71. The stock has a market capitalization of $84.14 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

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.