Alkeon Capital Management LLC Sells 430 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Alkeon Capital Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668,637 shares of the semiconductor company’s stock after selling 430 shares during the period. Synopsys comprises about 0.6% of Alkeon Capital Management LLC’s holdings, making the stock its 26th largest holding. Alkeon Capital Management LLC owned approximately 0.44% of Synopsys worth $338,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its stake 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 purchasing an additional 36 shares during the period. Pacifica Partners Inc. bought a new stake in Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC boosted its position in Synopsys by 75.0% during 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 bought a new stake in Synopsys in the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on SNPS shares. Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company initiated coverage on Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and an average price target of $653.80.

Synopsys Price Performance

Shares of SNPS opened at $547.74 on Friday. The firm has a market capitalization of $84.14 billion, a P/E ratio of 56.82, a PEG ratio of 3.34 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The business has a fifty day moving average of $524.79 and a 200 day moving average of $545.72.

Synopsys Company 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.