Pallas Capital Advisors LLC Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Pallas Capital Advisors LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,748 shares of the semiconductor company's stock, valued at approximately $7,158,000.

A number of other institutional investors have also modified their holdings of SNPS. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company's stock valued at $655,000 after purchasing an additional 22 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company's stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC raised its stake in shares of Synopsys by 2.8% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company's stock valued at $410,000 after purchasing an additional 22 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Synopsys by 6.1% during the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company's stock worth $202,000 after acquiring an additional 23 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNPS has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Robert W. Baird lowered their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Finally, Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $641.82.

Synopsys Trading Down 1.0 %

Shares of Synopsys stock traded down $5.11 during trading hours on Monday, reaching $487.43. The stock had a trading volume of 890,763 shares, compared to its average volume of 1,016,270. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock's 50 day moving average is $523.58 and its 200 day moving average is $528.92. The firm has a market capitalization of $75.35 billion, a PE ratio of 33.57, a PEG ratio of 3.41 and a beta of 1.12.

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.

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