Floyd Financial Group LLC Takes $647,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Floyd Financial Group LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,313 shares of the semiconductor company's stock, valued at approximately $647,000.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Synopsys by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company's stock valued at $97,929,000 after buying an additional 5,236 shares in the last quarter. Rathbones Group PLC lifted its holdings in shares of Synopsys by 16.3% in the second quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company's stock worth $421,000 after acquiring an additional 99 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Synopsys by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company's stock valued at $180,779,000 after purchasing an additional 43,785 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Synopsys during the 2nd quarter valued at approximately $203,000. Finally, Axxcess Wealth Management LLC increased its position in Synopsys by 8.8% during the 2nd quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company's stock worth $2,610,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNPS. 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 research report on Thursday, December 5th. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective on the stock. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating for the company in a report on Friday, December 6th. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price target on the stock. Finally, Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Synopsys has an average rating of "Moderate Buy" and an average price target of $641.82.

Synopsys Trading Up 3.4 %

NASDAQ:SNPS traded up $16.83 on Wednesday, reaching $507.19. 1,077,220 shares of the stock traded hands, compared to its average volume of 1,003,885. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company'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 price-to-earnings-growth ratio of 3.41 and a beta of 1.12.

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.