Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in Synopsys, Inc. (NASDAQ:SNPS)

by · The Cerbat Gem

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 142,585 shares of the semiconductor company’s stock after selling 108,222 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Synopsys worth $72,204,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNPS. ORG Partners LLC increased its stake in shares of Synopsys by 600.0% in the 2nd 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. Pacifica Partners Inc. bought a new stake in Synopsys during the third quarter valued at about $25,000. Tsfg LLC increased its position in Synopsys by 75.0% in the third 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 bought a new position in shares of Synopsys in the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 40.0% during 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 in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.1 %

NASDAQ:SNPS opened at $547.74 on Thursday. The company has a market capitalization of $84.14 billion, a P/E ratio of 56.82, a P/E/G ratio of 3.43 and a beta of 1.08. The business’s 50-day moving average is $524.12 and its 200 day moving average is $545.71. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNPS shares. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $653.80.

View Our Latest Stock Analysis on SNPS

About Synopsys

(Free Report)

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.

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