Northcape Capital Pty Ltd Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Northcape Capital Pty Ltd purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,692 shares of the semiconductor company’s stock, valued at approximately $1,307,000. Synopsys comprises approximately 0.2% of Northcape Capital Pty Ltd’s holdings, making the stock its 23rd biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter valued at about $633,469,000. Sustainable Growth Advisers LP purchased a new position in Synopsys in the second quarter worth $572,050,000. Edgewood Management LLC lifted its holdings in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp increased its holdings in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after buying an additional 335,993 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after acquiring an additional 267,836 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 2.7 %

NASDAQ SNPS opened at $487.62 on Wednesday. The business’s 50-day moving average price is $525.02 and its 200 day moving average price is $531.02. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The company has a market capitalization of $75.38 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several research reports. Loop Capital assumed coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Piper Sandler lowered their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.00.

Synopsys 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.