Allspring Global Investments Holdings LLC Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Allspring Global Investments Holdings LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,412 shares of the semiconductor company’s stock after buying an additional 587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Synopsys were worth $26,268,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Davidson Capital Management Inc. increased 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 valued at $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Peloton Wealth Strategists raised its stake in shares of Synopsys by 221.2% during the 3rd 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 boosted its holdings in shares of Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the last quarter. Parnassus Investments LLC bought a new position in Synopsys during the third quarter valued at about $633,469,000. Finally, Harvest Portfolios Group Inc. increased its holdings in Synopsys by 3.7% during the third 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 last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.1 %

Shares of Synopsys stock opened at $522.53 on Friday. The company’s 50-day moving average price is $510.78 and its 200-day moving average price is $518.06. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $80.77 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.49 and a beta of 1.12.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SNPS shares. Loop Capital assumed coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Wells Fargo & Company lowered their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.