Principal Financial Group Inc. Acquires 2,655 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Principal Financial Group Inc. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 247,966 shares of the semiconductor company’s stock after purchasing an additional 2,655 shares during the period. Principal Financial Group Inc. owned about 0.16% of Synopsys worth $125,568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Davidson Capital Management Inc. lifted its position in shares of Synopsys by 33,828.6% during the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Peloton Wealth Strategists increased its stake in Synopsys by 221.2% in the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares during the last quarter. Swiss National Bank lifted its position in shares of Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares in the last quarter. Parnassus Investments LLC purchased a new position in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Finally, Harvest Portfolios Group Inc. boosted its stake in shares of Synopsys by 3.7% in 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 during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Finally, Wells Fargo & Company started coverage on shares of Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Stock Down 0.2 %

NASDAQ SNPS opened at $492.18 on Friday. The company’s 50 day moving average is $528.97 and its 200-day moving average is $540.21. The firm has a market cap of $75.61 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

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.