Janus Henderson Group PLC Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Janus Henderson Group PLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,139,887 shares of the semiconductor company’s stock after buying an additional 81,198 shares during the period. Janus Henderson Group PLC’s holdings in Synopsys were worth $577,289,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Edgewood Management LLC increased its stake in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Swedbank AB boosted its holdings in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Parnassus Investments LLC acquired a new position in shares of Synopsys during the 3rd quarter worth approximately $633,469,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Synopsys by 4.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $565.93 on Tuesday. The stock’s 50-day moving average is $527.03 and its two-hundred day moving average is $545.36. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The company has a market cap of $86.93 billion, a price-to-earnings ratio of 58.71, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $653.80.

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.