National Bank of Canada FI Purchases 50,834 Shares of Synopsys, Inc. (NASDAQ:SNPS)

National Bank of Canada FI raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 86.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,780 shares of the semiconductor company’s stock after purchasing an additional 50,834 shares during the period. National Bank of Canada FI owned 0.07% of Synopsys worth $55,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Edgewood Management LLC boosted its holdings in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Swedbank AB boosted its holdings in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Van ECK Associates Corp boosted its holdings 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. Finally, Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter worth $633,469,000. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNPS shares. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. 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. Finally, Mizuho initiated coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

Synopsys Trading Up 0.4 %

Shares of SNPS opened at $517.28 on Friday. The company has a market cap of $79.46 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 3.59 and a beta of 1.08. The stock has a 50-day moving average price of $529.93 and a 200-day moving average price of $544.89. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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.