Principal Financial Group Inc. Has $125.57 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Principal Financial Group Inc. boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 247,966 shares of the semiconductor company's stock after buying an additional 2,655 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Synopsys worth $125,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. purchased a new stake in shares of Synopsys during the 3rd quarter valued at about $25,000. Tsfg LLC lifted its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new position in Synopsys in the 2nd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Synopsys during the third quarter worth about $44,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNPS shares. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target on the stock. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a "buy" rating and a $675.00 price target on the stock. Finally, Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $649.00.

Synopsys Trading Down 0.2 %

Shares of NASDAQ SNPS traded down $1.17 during midday trading on Friday, reaching $492.18. The company's stock had a trading volume of 2,198,615 shares, compared to its average volume of 1,085,253. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The company has a market cap of $75.61 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. The company has a 50 day moving average price of $528.97 and a 200 day moving average price of $540.21.

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.