CCLA Investment Management Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

CCLA Investment Management grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,047 shares of the semiconductor company’s stock after acquiring an additional 51,620 shares during the quarter. Synopsys comprises approximately 2.2% of CCLA Investment Management’s investment portfolio, making the stock its 13th largest holding. CCLA Investment Management owned about 0.18% of Synopsys worth $138,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Green Alpha Advisors LLC lifted its stake in Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after acquiring an additional 22 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after acquiring an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC raised its holdings in shares of Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Synopsys by 6.1% during the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 23 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 0.6 %

SNPS opened at $490.36 on Wednesday. The firm’s fifty day simple moving average is $522.21 and its two-hundred day simple moving average is $527.43. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market cap of $75.80 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.41 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNPS shares. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Piper Sandler lowered their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.