Dai ichi Life Insurance Company Ltd Sells 1,807 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Dai ichi Life Insurance Company Ltd lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.2% in the 3rd quarter, Holdings Channel reports. The firm owned 20,312 shares of the semiconductor company’s stock after selling 1,807 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Synopsys were worth $10,286,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SNPS. Edgewood Management LLC grew its stake in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Swedbank AB increased 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 period. Van ECK Associates Corp lifted its holdings in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the period. Parnassus Investments LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth $633,469,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after buying an additional 43,228 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 0.6 %

Shares of SNPS opened at $561.87 on Tuesday. The company has a market cap of $86.31 billion, a P/E ratio of 58.29, a PEG ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s 50 day moving average price is $522.05 and its 200 day moving average price is $545.71.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Synopsys in a research note on Friday. They issued an “equal weight” rating and a $570.00 price objective for the company. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $644.36.

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.