Board of the Pension Protection Fund Acquires Shares of 2,100 Synopsys, Inc. (NASDAQ:SNPS)

Board of the Pension Protection Fund purchased a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,100 shares of the semiconductor company's stock, valued at approximately $1,019,000. Synopsys comprises about 1.2% of Board of the Pension Protection Fund's investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC raised its position in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company's stock worth $1,656,005,000 after purchasing an additional 61,799 shares during the last quarter. Edgewood Management LLC lifted its holdings in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock worth $1,554,540,000 after buying an additional 487,025 shares during the period. Van ECK Associates Corp grew its position in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company's stock valued at $791,923,000 after buying an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Synopsys in the third quarter valued at about $633,469,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 target price on the stock. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday. They set a "buy" rating and a $600.00 target price for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lowered their price objective on Synopsys from $570.00 to $540.00 and set an "equal weight" rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $641.82.

Synopsys Trading Up 3.4 %

NASDAQ SNPS traded up $16.83 during mid-day trading on Wednesday, hitting $507.19. The company's stock had a trading volume of 1,129,094 shares, compared to its average volume of 1,010,197. 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. The company's 50 day simple moving average is $522.21 and its 200 day simple moving average is $527.43. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys Company 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.