Brooklyn Investment Group Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Brooklyn Investment Group raised its position in Synopsys, Inc. (NASDAQ:SNPS) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 599 shares of the semiconductor company’s stock after acquiring an additional 67 shares during the quarter. Brooklyn Investment Group’s holdings in Synopsys were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $2,562,000. D.A. Davidson & CO. increased its position in Synopsys by 13.9% during the 3rd quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after purchasing an additional 502 shares during the period. Bank of Montreal Can raised its holdings in Synopsys by 3.2% in the 3rd quarter. Bank of Montreal Can now owns 230,983 shares of the semiconductor company’s stock worth $118,566,000 after purchasing an additional 7,137 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Synopsys by 32.4% in the 3rd quarter. Truvestments Capital LLC now owns 952 shares of the semiconductor company’s stock worth $482,000 after purchasing an additional 233 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Synopsys by 221.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,808 shares of the semiconductor company’s stock valued at $916,000 after purchasing an additional 1,246 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Down 1.4 %

Shares of SNPS stock opened at $553.95 on Wednesday. The company has a 50 day moving average price of $523.08 and a 200-day moving average price of $545.69. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market capitalization of $85.09 billion, a PE ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08.

Analyst Upgrades and Downgrades

SNPS has been the subject of several research reports. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. JPMorgan Chase & Co. lifted their price target 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. Wells Fargo & Company started coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Finally, Loop Capital began coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $644.36.

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.