Groupama Asset Managment Has $3.02 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Groupama Asset Managment grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 36.4% during the third quarter, HoldingsChannel reports. The firm owned 5,968 shares of the semiconductor company’s stock after buying an additional 1,593 shares during the quarter. Groupama Asset Managment’s holdings in Synopsys were worth $3,022,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNPS. State Street Corp raised its holdings in Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Edgewood Management LLC raised its holdings in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares during the last quarter. Swedbank AB raised its holdings in Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. Van ECK Associates Corp raised its holdings in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in Synopsys during the 3rd quarter worth approximately $633,469,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 0.4 %

NASDAQ SNPS opened at $517.28 on Monday. The company has a fifty day simple moving average of $529.93 and a 200 day simple moving average of $544.69. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $79.46 billion, a P/E ratio of 35.63, a PEG ratio of 3.25 and a beta of 1.08.

Analysts Set New Price Targets

Several research analysts have issued reports on SNPS shares. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Robert W. Baird reduced their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

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.