Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 109.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 113 shares of the semiconductor company’s stock after acquiring an additional 59 shares during the quarter. Versant Capital Management Inc’s holdings in Synopsys were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. acquired a new stake in Synopsys during the third quarter worth $25,000. Tsfg LLC raised its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc acquired a new position in Synopsys in the second quarter valued at about $30,000. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective 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. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Trading Up 2.3 %

Synopsys stock opened at $493.71 on Monday. The stock has a market cap of $76.32 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. The company has a fifty day simple moving average of $525.75 and a 200-day simple moving average of $532.62. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

About Synopsys

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.