Nordea Investment Management AB Buys 143,284 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nordea Investment Management AB increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,043,995 shares of the semiconductor company’s stock after purchasing an additional 143,284 shares during the period. Nordea Investment Management AB owned approximately 0.68% of Synopsys worth $509,261,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in shares of Synopsys by 6.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,662 shares of the semiconductor company’s stock valued at $5,750,000 after buying an additional 597 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Synopsys by 21.7% in the 2nd quarter. Private Advisor Group LLC now owns 5,214 shares of the semiconductor company’s stock valued at $3,102,000 after purchasing an additional 931 shares in the last quarter. Savant Capital LLC increased its stake in shares of Synopsys by 5.1% in the 2nd quarter. Savant Capital LLC now owns 4,536 shares of the semiconductor company’s stock valued at $2,699,000 after purchasing an additional 222 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Synopsys by 4.7% during the 2nd quarter. Lake Street Advisors Group LLC now owns 913 shares of the semiconductor company’s stock worth $543,000 after buying an additional 41 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Synopsys by 30.5% in the second quarter. Cullen Frost Bankers Inc. now owns 663 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $493.71 on Monday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm’s fifty day moving average is $525.75 and its 200-day moving average is $532.62. The firm has a market cap of $76.32 billion, a P/E ratio of 34.00, a P/E/G ratio of 3.41 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNPS. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Robert W. Baird dropped their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler lowered their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $649.00.

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.