Jennison Associates LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jennison Associates LLC raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 41.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,802 shares of the semiconductor company’s stock after buying an additional 4,017 shares during the quarter. Jennison Associates LLC’s holdings in Synopsys were worth $6,989,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNPS. Andina Capital Management LLC raised its position in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC grew its stake in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Hilltop National Bank lifted its position in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC boosted its holdings in shares of Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after buying an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNPS shares. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Wells Fargo & Company began coverage on Synopsys in a research note on Friday. They issued an “equal weight” rating and a $570.00 price target for the company. Finally, Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys Stock Up 1.3 %

Shares of NASDAQ:SNPS opened at $565.07 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a market cap of $86.80 billion, a P/E ratio of 58.62, a PEG ratio of 3.26 and a beta of 1.08. The business has a fifty day moving average of $520.78 and a two-hundred day moving average of $545.69.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $2.17 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.