Polymer Capital Management HK LTD Sells 4,855 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Polymer Capital Management HK LTD cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 31.1% during the third quarter, Holdings Channel reports. The fund owned 10,775 shares of the semiconductor company’s stock after selling 4,855 shares during the period. Synopsys makes up about 1.3% of Polymer Capital Management HK LTD’s portfolio, making the stock its 18th biggest position. Polymer Capital Management HK LTD’s holdings in Synopsys were worth $5,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. ORG Partners LLC grew its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the third quarter valued at approximately $25,000. Tsfg LLC increased its holdings in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new position in Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SNPS shares. Wells Fargo & Company assumed coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price target for the company. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler reduced their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.80.

Synopsys Price Performance

SNPS stock opened at $570.19 on Wednesday. The company has a fifty day moving average price of $528.30 and a two-hundred day moving average price of $545.39. The stock has a market cap of $87.59 billion, a price-to-earnings ratio of 59.15, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. Synopsys, Inc. has a one year low of $457.52 and a one year 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.