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

Allspring Global Investments Holdings LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 54,412 shares of the semiconductor company’s stock after purchasing an additional 587 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Synopsys were worth $26,268,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC bought a new position in shares of Synopsys during the 3rd quarter valued at $633,469,000. Edgewood Management LLC boosted its position in Synopsys by 18.9% during 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 buying an additional 487,025 shares during the period. Van ECK Associates Corp increased its holdings in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Synopsys by 120.2% in the third quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of 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. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Finally, Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Down 1.1 %

Shares of SNPS stock opened at $522.53 on Friday. The business’s fifty day moving average is $510.78 and its 200 day moving average is $518.06. The stock 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. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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.