Glenmede Trust Co. NA Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Glenmede Trust Co. NA lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,322 shares of the semiconductor company’s stock after selling 5,994 shares during the period. Glenmede Trust Co. NA’s holdings in Synopsys were worth $20,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SNPS. ORG Partners LLC increased its position in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Chris Bulman Inc purchased a new position in Synopsys in the 2nd quarter valued at approximately $30,000. Pacifica Partners Inc. acquired a new stake in Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $547.74 on Thursday. The company has a 50-day simple moving average of $524.12 and a 200-day simple moving average of $545.71. The company has a market cap of $84.14 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Analyst Ratings Changes

A number of research firms recently issued reports on SNPS. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler dropped their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $653.80.

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.