Northwest & Ethical Investments L.P. Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

Northwest & Ethical Investments L.P. increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 88.8% in the third quarter, Holdings Channel.com reports. The firm owned 57,617 shares of the semiconductor company’s stock after purchasing an additional 27,098 shares during the quarter. Synopsys comprises approximately 0.8% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 28th biggest position. Northwest & Ethical Investments L.P.’s holdings in Synopsys were worth $29,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC boosted its position in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC boosted its position in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys in the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 1.1 %

Shares of NASDAQ SNPS traded down $6.21 during trading hours on Thursday, hitting $547.74. 771,494 shares of the stock were exchanged, compared to its average volume of 1,051,233. The company has a market cap of $84.14 billion, a PE ratio of 56.82, a PEG ratio of 3.43 and a beta of 1.08. The firm has a fifty day moving average price of $524.12 and a 200-day moving average price of $545.71. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Analyst Upgrades and Downgrades

SNPS has been the subject of several research reports. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company initiated coverage on shares of Synopsys in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.80.

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.