Versant Capital Management Inc Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Versant Capital Management Inc increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 109.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113 shares of the semiconductor company’s stock after purchasing an additional 59 shares during the period. Versant Capital Management Inc’s holdings in Synopsys were worth $55,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter valued at about $30,000. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter worth $25,000. Tsfg LLC boosted its position in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Synopsys during the second quarter worth about $51,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SNPS shares. Piper Sandler cut their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird lowered their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus price target of $649.00.

Synopsys Price Performance

SNPS stock opened at $493.71 on Monday. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The firm has a market capitalization of $76.32 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12. The business has a 50 day simple moving average of $525.75 and a 200-day simple moving average of $532.62.

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.