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

Brown Brothers Harriman & Co. lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 221.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,808 shares of the semiconductor company’s stock after buying an additional 1,246 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Synopsys were worth $916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Edgewood Management LLC raised 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 during the period. Swedbank AB increased its holdings in shares of Synopsys by 1.4% during the 2nd 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 raised its stake in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares during the period. Parnassus Investments LLC acquired a new stake in Synopsys during the 3rd quarter valued at $633,469,000. Finally, Vontobel Holding Ltd. boosted its position in Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

SNPS opened at $553.95 on Wednesday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market cap of $85.09 billion, a P/E ratio of 57.46, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The business’s fifty day moving average is $523.08 and its 200-day moving average is $545.69.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $644.36.

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.