Assenagon Asset Management S.A. Acquires 14,802 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Assenagon Asset Management S.A. lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 216,697 shares of the semiconductor company’s stock after purchasing an additional 14,802 shares during the period. Assenagon Asset Management S.A.’s holdings in Synopsys were worth $105,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Envestnet Asset Management Inc. grew its holdings in Synopsys by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company’s stock worth $97,929,000 after acquiring an additional 5,236 shares during the last quarter. Rathbones Group PLC grew its stake in shares of Synopsys by 16.3% during the second quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company’s stock valued at $421,000 after purchasing an additional 99 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Synopsys by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company’s stock valued at $180,779,000 after purchasing an additional 43,785 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Synopsys during the 2nd quarter worth $203,000. Finally, Axxcess Wealth Management LLC lifted its holdings in Synopsys by 8.8% during the 2nd quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company’s stock worth $2,610,000 after buying an additional 356 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 0.6 %

Shares of SNPS stock opened at $490.36 on Wednesday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a fifty day moving average of $522.21 and a 200-day moving average of $527.43. The firm has a market capitalization of $75.80 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNPS shares. Wells Fargo & Company dropped their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. 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 note on Thursday, December 5th. Finally, Piper Sandler cut their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

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.