Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Eastern Bank

Eastern Bank grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,455 shares of the semiconductor company’s stock after acquiring an additional 57 shares during the period. Eastern Bank’s holdings in Synopsys were worth $1,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. Pacifica Partners Inc. purchased a new position in shares of Synopsys during the 3rd quarter valued at $25,000. Kieckhefer Group LLC bought a new stake in Synopsys in the fourth quarter worth $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. boosted 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. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys in the third quarter worth $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Finally, Redburn Atlantic assumed coverage on shares of Synopsys in a research report on Monday. They set a “buy” rating and a $600.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Performance

Shares of SNPS opened at $487.43 on Tuesday. The company has a 50-day simple moving average of $522.84 and a 200-day simple moving average of $528.17. The firm has a market capitalization of $75.35 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.41 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

About Synopsys

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.