Baldwin Investment Management LLC Purchases 2,860 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Baldwin Investment Management LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 124.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,151 shares of the semiconductor company’s stock after acquiring an additional 2,860 shares during the quarter. Baldwin Investment Management LLC’s holdings in Synopsys were worth $2,608,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNPS. Davidson Capital Management Inc. raised its stake in shares of 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 acquiring an additional 4,736 shares in the last quarter. Swiss National Bank raised its position in shares of Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after buying an additional 1,496 shares during the period. Parnassus Investments LLC acquired a new position in Synopsys in the 3rd quarter valued at $633,469,000. Finally, Jacobs & Co. CA bought a new position in Synopsys in the 3rd quarter worth $10,554,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

Synopsys stock opened at $553.95 on Wednesday. The business’s fifty day moving average is $523.08 and its two-hundred day moving average is $545.69. The firm has a market cap of $85.09 billion, a P/E ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNPS. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler lowered their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus target price of $644.36.

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.