Martingale Asset Management L P Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Martingale Asset Management L P decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 80.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 860 shares of the semiconductor company’s stock after selling 3,612 shares during the period. Martingale Asset Management L P’s holdings in Synopsys were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SNPS. ORG Partners LLC boosted its position 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 in the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys in the 2nd quarter worth about $30,000. Pacifica Partners Inc. acquired a new stake in Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC increased its holdings 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 acquiring an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $653.80.

Synopsys Price Performance

Shares of SNPS stock opened at $570.19 on Wednesday. The firm’s 50-day simple moving average is $528.30 and its 200-day simple moving average is $545.39. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market cap of $87.59 billion, a P/E ratio of 59.15, a PEG ratio of 3.45 and a beta of 1.08.

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.