Townsquare Capital LLC Purchases 508 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Townsquare Capital LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,700 shares of the semiconductor company’s stock after buying an additional 508 shares during the period. Townsquare Capital LLC’s holdings in Synopsys were worth $2,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SNPS. ORG Partners LLC grew its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. bought a new position in Synopsys during the third quarter worth $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in Synopsys in the second quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. increased its stake in 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 purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

SNPS opened at $558.49 on Friday. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company has a market capitalization of $85.79 billion, a price-to-earnings ratio of 57.93, a P/E/G ratio of 3.34 and a beta of 1.08. The firm’s fifty day moving average price is $525.83 and its two-hundred day moving average price is $545.63.

Analyst Ratings Changes

Several brokerages have recently commented on SNPS. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $653.80.

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.