Blueshift Asset Management LLC Invests $519,000 in Synopsys, Inc. (NASDAQ:SNPS)

Blueshift Asset Management LLC acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,024 shares of the semiconductor company’s stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Silvercrest Asset Management Group LLC boosted its holdings in shares of Synopsys by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock worth $2,332,000 after purchasing an additional 488 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Synopsys by 39.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock worth $914,000 after buying an additional 453 shares in the last quarter. Tidal Investments LLC grew its position in Synopsys by 3.2% during the first quarter. Tidal Investments LLC now owns 6,833 shares of the semiconductor company’s stock valued at $3,905,000 after acquiring an additional 215 shares during the last quarter. Comerica Bank raised its stake in shares of Synopsys by 5.6% during the first quarter. Comerica Bank now owns 33,770 shares of the semiconductor company’s stock worth $19,300,000 after acquiring an additional 1,787 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Synopsys in the 1st quarter worth approximately $286,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS opened at $547.74 on Thursday. The stock’s 50 day moving average price is $524.12 and its 200-day moving average price is $545.71. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a market capitalization of $84.14 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Analysts Set New Price Targets

Several research firms recently commented on SNPS. Wells Fargo & Company initiated coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Mizuho started coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Piper Sandler reduced their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. 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 an average price target of $653.80.

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.