Loomis Sayles & Co. L P Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Loomis Sayles & Co. L P reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 88.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 82 shares of the semiconductor company’s stock after selling 649 shares during the period. Loomis Sayles & Co. L P’s holdings in Synopsys were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. ORG Partners LLC raised 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. purchased a new stake in Synopsys during the 3rd quarter worth $25,000. Tsfg LLC lifted its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new position in Synopsys in the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 40.0% during 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 in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

SNPS stock opened at $547.74 on Friday. The stock’s fifty day moving average is $524.79 and its two-hundred day moving average is $545.72. The stock has a market capitalization of $84.14 billion, a price-to-earnings ratio of 56.82, a PEG ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Piper Sandler cut their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Synopsys in a report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Synopsys presently has an average 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.