Westwind Capital Buys 116 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Westwind Capital raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,709 shares of the semiconductor company’s stock after buying an additional 116 shares during the quarter. Synopsys comprises 2.3% of Westwind Capital’s portfolio, making the stock its 20th biggest position. Westwind Capital’s holdings in Synopsys were worth $10,537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SNPS. Davidson Capital Management Inc. boosted its position in shares of Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists raised its position in shares of Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after purchasing an additional 1,984 shares during the period. Swiss National Bank lifted its holdings in shares of Synopsys by 0.7% during the 3rd 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 in the last quarter. Parnassus Investments LLC bought a new stake in Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its position in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of Synopsys stock traded down $15.03 during trading on Tuesday, reaching $486.03. 778,178 shares of the company’s stock were exchanged, compared to its average volume of 785,250. The firm’s 50-day moving average price is $525.85 and its 200 day moving average price is $531.85. The company has a market cap of $75.13 billion, a P/E ratio of 33.47, a PEG ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler decreased their price target 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. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Berenberg Bank initiated 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. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

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.