Raymond James Trust N.A. Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Raymond James Trust N.A. raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 22.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Synopsys during the 1st quarter valued at $1,051,637,000. Parnassus Investments LLC acquired a new position in shares of Synopsys during the third quarter worth about $633,469,000. Sustainable Growth Advisers LP purchased a new stake in shares of Synopsys in the second quarter worth about $572,050,000. Edgewood Management LLC grew its stake in shares of 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 in the last quarter. Finally, Van ECK Associates Corp lifted its position in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.6 %

SNPS stock opened at $561.87 on Tuesday. The stock’s 50 day simple moving average is $522.05 and its 200 day simple moving average is $545.71. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The firm has a market cap of $86.31 billion, a P/E ratio of 58.29, a P/E/G ratio of 3.45 and a beta of 1.08.

Analysts Set New Price Targets

Several brokerages have issued reports on SNPS. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Synopsys in a research report on Friday. They issued an “equal weight” rating and a $570.00 price objective for the company. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Finally, Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Company 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.