Y Intercept Hong Kong Ltd Takes $2.75 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Y Intercept Hong Kong Ltd purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,421 shares of the semiconductor company's stock, valued at approximately $2,745,000.

Several other institutional investors also recently bought and sold shares of SNPS. Cascade Financial Partners LLC lifted its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company's stock worth $232,000 after buying an additional 18 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in 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. Green Alpha Advisors LLC increased its position in Synopsys by 1.7% during 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 during the period. Aptus Capital Advisors LLC lifted its position in shares of Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company's stock worth $733,000 after purchasing an additional 22 shares during the period. Finally, Resurgent Financial Advisors LLC boosted its stake in shares of Synopsys by 2.8% during 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. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 target price for the company. JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $649.00.

Synopsys Stock Performance

Shares of SNPS stock traded down $3.17 during trading hours on Tuesday, reaching $505.32. The company had a trading volume of 1,784,532 shares, compared to its average volume of 1,079,136. The business has a fifty day moving average price of $529.97 and a 200-day moving average price of $544.15. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $77.62 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.08.

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.