Tidal Investments LLC Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Tidal Investments LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,399 shares of the semiconductor company’s stock after selling 289 shares during the period. Tidal Investments LLC’s holdings in Synopsys were worth $3,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Davidson Capital Management Inc. increased its holdings in 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 buying an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its holdings in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank lifted its position in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys during the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. increased its position in Synopsys by 3.7% in the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 0.7 %

Shares of Synopsys stock opened at $508.28 on Friday. The firm has a market cap of $78.08 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The business has a 50-day moving average price of $530.98 and a 200-day moving average price of $542.26.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of analyst reports. Berenberg Bank began 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. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Finally, Wells Fargo & Company began coverage on Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

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.