Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by CCLA Investment Management

CCLA Investment Management boosted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,047 shares of the semiconductor company's stock after acquiring an additional 51,620 shares during the quarter. Synopsys accounts for about 2.2% of CCLA Investment Management's holdings, making the stock its 13th biggest holding. CCLA Investment Management owned 0.18% of Synopsys worth $138,222,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Davidson Capital Management Inc. increased its holdings in shares of Synopsys by 33,828.6% in the 3rd 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 last quarter. Peloton Wealth Strategists increased its stake in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company's stock valued at $1,459,000 after purchasing an additional 1,984 shares during the last quarter. Swiss National Bank increased its stake in Synopsys by 0.7% in 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 during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its position in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock worth $21,330,000 after buying an additional 1,496 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNPS. Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a research note on Monday. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 target price on shares of Synopsys in a research report on Wednesday, December 4th. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target on the stock. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Finally, Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $641.82.

Synopsys Trading Up 3.5 %

Shares of Synopsys stock traded up $17.39 during trading hours on Wednesday, hitting $507.75. 233,552 shares of the company were exchanged, compared to its average volume of 904,234. The business has a 50-day moving average of $522.21 and a 200-day moving average of $527.43. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market capitalization of $78.49 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 3.41 and a beta of 1.12.

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.