Assenagon Asset Management S.A. Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Assenagon Asset Management S.A. raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,697 shares of the semiconductor company's stock after purchasing an additional 14,802 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Synopsys worth $105,176,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNPS. Pacifica Partners Inc. purchased a new stake in shares of Synopsys in the 3rd quarter valued at $25,000. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter valued at about $27,000. Tsfg LLC grew its stake in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after buying an additional 24 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after buying an additional 20 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of Synopsys in the 2nd quarter valued at about $51,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Up 3.4 %

SNPS traded up $16.83 during midday trading on Wednesday, reaching $507.19. The company's stock had a trading volume of 1,129,094 shares, compared to its average volume of 1,010,197. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock's 50-day moving average is $522.21 and its 200-day moving average is $527.43. The firm has a market capitalization of $78.40 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.41 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNPS. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective on the stock. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a research report on Friday, December 6th. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday. They issued a "buy" rating and a $600.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and an average target price of $641.82.

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.