Synopsys, Inc. (NASDAQ:SNPS) is Thematics Asset Management’s 3rd Largest Position

Thematics Asset Management raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,869 shares of the semiconductor company’s stock after purchasing an additional 21,912 shares during the period. Synopsys accounts for approximately 2.8% of Thematics Asset Management’s investment portfolio, making the stock its 3rd largest holding. Thematics Asset Management owned about 0.09% of Synopsys worth $71,335,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Davidson Capital Management Inc. lifted its holdings in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Swiss National Bank boosted its holdings in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after acquiring an additional 3,200 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after acquiring an additional 1,496 shares during the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter valued at about $633,469,000. Finally, Jacobs & Co. CA purchased a new position in shares of Synopsys in the 3rd quarter valued at approximately $10,554,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNPS shares. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reduced their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $644.36.

Synopsys Price Performance

NASDAQ:SNPS traded down $4.31 during trading hours on Tuesday, reaching $557.56. The company had a trading volume of 114,712 shares, compared to its average volume of 1,049,417. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business’s 50 day moving average price is $522.05 and its 200-day moving average price is $545.71. The firm has a market cap of $85.65 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.45 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.