Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 831 shares of the semiconductor company’s stock after buying an additional 189 shares during the period. Outlook Wealth Advisors LLC’s holdings in Synopsys were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SNPS. Parnassus Investments LLC acquired a new stake in Synopsys during the 3rd quarter worth $633,469,000. Edgewood Management LLC lifted its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp boosted its position in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Impax Asset Management Group plc grew its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Synopsys by 32.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNPS shares. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday. They issued a “buy” rating and a $600.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Stock Performance

Shares of SNPS opened at $507.19 on Thursday. The stock has a market capitalization of $78.40 billion, a PE ratio of 34.93, a P/E/G ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The company’s 50-day simple moving average is $522.21 and its 200-day simple moving average is $527.43.

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.