Dantai Capital Ltd Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Dantai Capital Ltd increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 41.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,098 shares of the semiconductor company’s stock after buying an additional 908 shares during the period. Synopsys comprises 2.0% of Dantai Capital Ltd’s portfolio, making the stock its 19th largest holding. Dantai Capital Ltd’s holdings in Synopsys were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. ORG Partners LLC raised its stake in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC grew its holdings in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Synopsys in the 2nd quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Piper Sandler decreased their price target on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Stock Performance

SNPS opened at $513.65 on Friday. The firm’s 50-day simple moving average is $530.80 and its 200-day simple moving average is $543.13. The firm has a market cap of $78.90 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

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.