Eventide Asset Management LLC Has $4.34 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Eventide Asset Management LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 85.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,576 shares of the semiconductor company’s stock after selling 51,749 shares during the period. Eventide Asset Management LLC’s holdings in Synopsys were worth $4,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SNPS. ORG Partners LLC increased its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Chris Bulman Inc purchased a new position in Synopsys during the second quarter valued at approximately $30,000. Pacifica Partners Inc. acquired a new position in Synopsys in the 3rd quarter valued at approximately $25,000. Tsfg LLC lifted its position 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. Finally, Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler reduced their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on Synopsys in a report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $653.80.

Synopsys Stock Performance

Shares of SNPS stock opened at $558.49 on Friday. The stock’s 50 day simple moving average is $525.83 and its 200 day simple moving average is $545.73. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a market capitalization of $85.79 billion, a price-to-earnings ratio of 57.93, a PEG ratio of 3.34 and a beta of 1.08.

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.