Brown Brothers Harriman & Co. Acquires 1,246 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Brown Brothers Harriman & Co. grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 221.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,808 shares of the semiconductor company’s stock after purchasing an additional 1,246 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Synopsys were worth $916,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Edgewood Management LLC boosted 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 in the last quarter. Swedbank AB lifted its holdings in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Synopsys by 26.5% in the third 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 during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at approximately $633,469,000. Finally, Vontobel Holding Ltd. grew its holdings in shares of 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 purchasing an additional 43,228 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler cut their target price 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. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $644.36.

Synopsys Price Performance

SNPS stock opened at $553.95 on Wednesday. The company’s 50-day moving average is $523.08 and its 200-day moving average is $545.69. The stock has a market capitalization of $85.09 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

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.