Vinva Investment Management Ltd Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Vinva Investment Management Ltd reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,950 shares of the semiconductor company’s stock after selling 1,673 shares during the period. Vinva Investment Management Ltd’s holdings in Synopsys were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. Edgewood Management LLC boosted its position in shares of Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Swedbank AB boosted its holdings in Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares in the last quarter. Van ECK Associates Corp grew its position in Synopsys by 26.5% during the third 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 position in Synopsys in the third quarter valued at about $633,469,000. Finally, Vontobel Holding Ltd. lifted its position in shares of Synopsys by 4.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after acquiring an additional 43,228 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNPS. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price target for the company. Berenberg Bank began 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. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $653.80.

Synopsys Stock Performance

Shares of SNPS opened at $558.49 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market capitalization of $85.79 billion, a PE ratio of 57.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The stock has a fifty day moving average of $525.83 and a two-hundred day moving average of $545.73.

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.