7,770 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,770 shares of the semiconductor company’s stock, valued at approximately $3,935,000. Synopsys accounts for approximately 1.9% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also recently made changes to their positions in SNPS. CreativeOne Wealth LLC grew its position in Synopsys by 315.1% during the third quarter. CreativeOne Wealth LLC now owns 2,250 shares of the semiconductor company’s stock valued at $1,139,000 after buying an additional 1,708 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Synopsys by 150.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,434 shares of the semiconductor company’s stock valued at $17,943,000 after acquiring an additional 21,304 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $519,000. Freedom Investment Management Inc. increased its stake in shares of Synopsys by 28.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 2,816 shares of the semiconductor company’s stock worth $1,426,000 after purchasing an additional 619 shares during the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Synopsys by 9.8% in the 3rd quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock worth $2,886,000 after purchasing an additional 508 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a fifty day moving average of $524.12 and a 200 day moving average of $545.71. The firm has a market capitalization of $84.14 billion, a price-to-earnings ratio of 56.82, a P/E/G ratio of 3.43 and a beta of 1.08.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNPS shares. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $653.80.

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.