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

Nordea Investment Management AB increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,043,995 shares of the semiconductor company’s stock after acquiring an additional 143,284 shares during the quarter. Nordea Investment Management AB’s holdings in Synopsys were worth $509,261,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after buying an additional 119,057 shares during the period. Geode Capital Management LLC raised its stake in Synopsys by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares during the period. Edgewood Management LLC grew its stake in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp increased its holdings in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of Synopsys during the third quarter valued at approximately $633,469,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 2.3 %

Shares of SNPS opened at $493.71 on Monday. The business’s 50-day moving average price is $525.75 and its 200-day moving average price is $532.62. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market cap of $76.32 billion, a PE ratio of 34.00, a P/E/G ratio of 3.41 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNPS shares. 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 target 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 Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Robert W. Baird dropped their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.00.

Synopsys 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.