Public Sector Pension Investment Board Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Public Sector Pension Investment Board raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 48.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,923 shares of the semiconductor company’s stock after buying an additional 56,300 shares during the period. Public Sector Pension Investment Board owned 0.11% of Synopsys worth $87,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC grew its holdings in shares of Synopsys by 13.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,080 shares of the semiconductor company’s stock valued at $2,332,000 after acquiring an additional 488 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Synopsys by 39.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $914,000 after purchasing an additional 453 shares during the period. Tidal Investments LLC increased its position in shares of Synopsys by 3.2% during the 1st quarter. Tidal Investments LLC now owns 6,833 shares of the semiconductor company’s stock valued at $3,905,000 after purchasing an additional 215 shares during the last quarter. Comerica Bank raised its stake in shares of Synopsys by 5.6% during the 1st quarter. Comerica Bank now owns 33,770 shares of the semiconductor company’s stock worth $19,300,000 after purchasing an additional 1,787 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $286,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The stock has a market cap of $84.14 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The stock has a fifty day moving average of $524.12 and a 200-day moving average of $545.71.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $653.80.

Synopsys 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.