Penserra Capital Management LLC Purchases 3,256 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Penserra Capital Management LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 41.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,129 shares of the semiconductor company’s stock after buying an additional 3,256 shares during the quarter. Penserra Capital Management LLC’s holdings in Synopsys were worth $5,634,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Davidson Capital Management Inc. increased its stake in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares during the period. Swiss National Bank boosted its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after purchasing an additional 1,496 shares during the period. Parnassus Investments LLC acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Finally, Jacobs & Co. CA bought a new position in shares of Synopsys during the 3rd quarter worth approximately $10,554,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of a number of analyst reports. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday. They set an “equal weight” rating and a $570.00 price target for the company. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. 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 equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Trading Up 1.3 %

Synopsys stock opened at $565.07 on Monday. The business has a 50-day moving average of $520.78 and a 200-day moving average of $545.63. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The firm has a market capitalization of $86.80 billion, a P/E ratio of 58.62, a PEG ratio of 3.45 and a beta of 1.08.

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.