Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Raymond James Trust N.A.

Raymond James Trust N.A. increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 22.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,475 shares of the semiconductor company’s stock after acquiring an additional 275 shares during the period. Raymond James Trust N.A.’s holdings in Synopsys were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Edgewood Management LLC lifted 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 buying an additional 487,025 shares during the last quarter. Swedbank AB boosted its position in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares during the period. Van ECK Associates Corp grew its holdings in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares in the last quarter. Parnassus Investments LLC acquired a new stake in Synopsys in the 3rd quarter valued at approximately $633,469,000. Finally, Vontobel Holding Ltd. raised its stake in Synopsys by 4.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after acquiring an additional 43,228 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SNPS shares. Wells Fargo & Company assumed coverage on Synopsys in a research note on Friday. They issued an “equal weight” rating and a $570.00 price target for the company. Loop Capital began coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Piper Sandler dropped their price target 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 increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $561.87 on Tuesday. The company has a market capitalization of $86.31 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. The stock has a fifty day moving average of $522.05 and a 200-day moving average of $545.71. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

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.