Pingora Partners LLC Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Pingora Partners LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105 shares of the semiconductor company’s stock after selling 55 shares during the quarter. Pingora Partners LLC’s holdings in Synopsys were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Davidson Capital Management Inc. increased its position in Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after buying an additional 4,736 shares during the period. Swiss National Bank grew its stake in shares of Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Synopsys by 3.7% during the 3rd 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 in the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys in the third quarter worth approximately $633,469,000. Finally, Jacobs & Co. CA bought a new stake in Synopsys in the third quarter worth about $10,554,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Wells Fargo & Company began coverage on Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Wednesday. Finally, Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $653.80.

Synopsys Stock Performance

Shares of SNPS stock opened at $570.19 on Wednesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market cap of $87.59 billion, a P/E ratio of 59.15, a PEG ratio of 3.45 and a beta of 1.08. The stock has a 50 day simple moving average of $528.30 and a two-hundred day simple moving average of $545.39.

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.