UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $777.04 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,534,470 shares of the semiconductor company’s stock after selling 78,819 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.00% of Synopsys worth $777,040,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Davidson Capital Management Inc. lifted its stake in Synopsys by 33,828.6% in the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. 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 worth $230,306,000 after acquiring an additional 3,200 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after acquiring an additional 1,496 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys during the third quarter worth approximately $633,469,000. Finally, Jacobs & Co. CA acquired a new stake in Synopsys during the third quarter worth approximately $10,554,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 1.1 %

SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company has a market cap of $84.14 billion, a P/E ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The company has a fifty day moving average price of $524.12 and a two-hundred day moving average price of $545.71.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Piper Sandler lowered their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $653.80.

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.