Financial Counselors Inc. Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Financial Counselors Inc. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,617 shares of the semiconductor company’s stock after purchasing an additional 4,438 shares during the quarter. Financial Counselors Inc.’s holdings in Synopsys were worth $15,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its holdings in Synopsys by 48.7% during the third quarter. Public Sector Pension Investment Board now owns 171,923 shares of the semiconductor company’s stock worth $87,060,000 after purchasing an additional 56,300 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in Synopsys during the third quarter worth about $3,935,000. CreativeOne Wealth LLC boosted its holdings in Synopsys by 315.1% during the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock worth $1,139,000 after purchasing an additional 1,708 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Synopsys by 150.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock worth $17,943,000 after purchasing an additional 21,304 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Synopsys during the third quarter worth about $519,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 1.1 %

NASDAQ SNPS opened at $547.74 on Thursday. The company’s 50 day moving average is $524.12 and its 200-day moving average is $545.71. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $84.14 billion, a P/E ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler dropped their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. 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 an average target price of $653.80.

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.