Geode Capital Management LLC Has $1.66 Billion Position in Synopsys, Inc. (NASDAQ:SNPS)

Geode Capital Management LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,281,867 shares of the semiconductor company's stock after purchasing an additional 61,799 shares during the period. Geode Capital Management LLC owned 2.14% of Synopsys worth $1,656,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Parnassus Investments LLC bought a new stake in shares of Synopsys in the 3rd quarter worth $633,469,000. Sustainable Growth Advisers LP purchased a new stake in shares of Synopsys in the second quarter worth about $572,050,000. Edgewood Management LLC boosted its position in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company's stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp boosted its stake in Synopsys by 26.5% during the third 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 period. Finally, Impax Asset Management Group plc grew its holdings in shares of Synopsys by 120.2% during the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company's stock worth $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

NASDAQ:SNPS traded up $6.74 on Wednesday, reaching $512.06. The stock had a trading volume of 1,005,066 shares, compared to its average volume of 1,078,830. The company has a market cap of $78.66 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 3.25 and a beta of 1.08. The firm's fifty day moving average is $530.17 and its two-hundred day moving average is $543.57. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SNPS shares. Wells Fargo & Company initiated coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an "equal weight" rating and a $570.00 target price on the stock. Piper Sandler cut their target price on Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Rosenblatt Securities reissued a "buy" rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price for the company. Finally, Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.00.

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.