Groupama Asset Managment Purchases 1,593 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Groupama Asset Managment boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 36.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,968 shares of the semiconductor company’s stock after acquiring an additional 1,593 shares during the quarter. Groupama Asset Managment’s holdings in Synopsys were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Parnassus Investments LLC bought a new position in shares of Synopsys in the third quarter valued at about $633,469,000. Sustainable Growth Advisers LP bought a new position in shares of Synopsys in the second quarter valued at about $572,050,000. Edgewood Management LLC raised its position 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 valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp raised its position 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 valued at $791,923,000 after purchasing an additional 335,993 shares during the period. Finally, Impax Asset Management Group plc raised its position 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 valued at $248,497,000 after purchasing an additional 267,836 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of several research analyst reports. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $649.00.

Synopsys Stock Up 0.4 %

Shares of Synopsys stock opened at $517.28 on Monday. The company has a market capitalization of $79.46 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 3.25 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm’s 50-day moving average price is $529.93 and its two-hundred day moving average price is $544.69.

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.