Resources Management Corp CT ADV Purchases 1,091 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Resources Management Corp CT ADV increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 319.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,432 shares of the semiconductor company’s stock after purchasing an additional 1,091 shares during the quarter. Resources Management Corp CT ADV’s holdings in Synopsys were worth $725,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Davidson Capital Management Inc. grew its stake in shares of Synopsys by 33,828.6% during the third 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 stake in Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Peloton Wealth Strategists boosted its stake in Synopsys by 221.2% in the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 1,984 shares during the last quarter. Parnassus Investments LLC bought a new position in Synopsys in the third quarter valued at approximately $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its stake in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Finally, Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

Synopsys Trading Down 0.6 %

SNPS opened at $505.32 on Wednesday. The stock has a market capitalization of $77.62 billion, a P/E ratio of 34.80, a P/E/G ratio of 3.25 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s fifty day simple moving average is $529.97 and its 200 day simple moving average is $544.15.

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.