BNP Paribas Cuts Position in Synopsys, Inc. (NASDAQ:SNPS)

BNP Paribas lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,736 shares of the semiconductor company’s stock after selling 3,842 shares during the quarter. BNP Paribas’ holdings in Synopsys were worth $10,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Andina Capital Management LLC increased its position in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC increased its position in Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Hilltop National Bank lifted its holdings in shares of Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC boosted its stake in shares of Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Stock Performance

Shares of SNPS opened at $553.95 on Wednesday. The company has a 50 day moving average price of $523.08 and a 200-day moving average price of $545.69. 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 capitalization of $85.09 billion, a PE ratio of 57.46, a PEG ratio of 3.43 and a beta of 1.08.

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.