HighTower Advisors LLC Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 48.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,304 shares of the semiconductor company’s stock after selling 8,674 shares during the period. HighTower Advisors LLC’s holdings in Synopsys were worth $4,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Davidson Capital Management Inc. increased its stake in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Swiss National Bank grew its position in shares of Synopsys by 0.7% in the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock valued at $230,306,000 after purchasing an additional 3,200 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Synopsys during the 3rd quarter worth about $633,469,000. Harvest Portfolios Group Inc. boosted its stake in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock worth $21,330,000 after purchasing an additional 1,496 shares during the period. Finally, Jacobs & Co. CA purchased a new position in Synopsys during the 3rd quarter valued at about $10,554,000. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNPS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Wells Fargo & Company began coverage on Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price for the company. Finally, Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. 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 an average target price of $649.00.

Synopsys Price Performance

NASDAQ:SNPS opened at $505.32 on Wednesday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The business has a 50 day moving average of $529.97 and a 200 day moving average of $544.15. The company has a market capitalization of $77.62 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.25 and a beta of 1.08.

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.