Sendero Wealth Management LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sendero Wealth Management LLC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,810 shares of the semiconductor company’s stock after purchasing an additional 130 shares during the quarter. Sendero Wealth Management LLC’s holdings in Synopsys were worth $1,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Synopsys by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company’s stock valued at $97,929,000 after acquiring an additional 5,236 shares during the last quarter. Rathbones Group PLC lifted its position in Synopsys by 16.3% in the second quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company’s stock valued at $421,000 after buying an additional 99 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Synopsys by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 303,784 shares of the semiconductor company’s stock valued at $180,779,000 after acquiring an additional 43,785 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in shares of Synopsys in the 2nd quarter worth approximately $203,000. Finally, Axxcess Wealth Management LLC increased its holdings in Synopsys by 8.8% in the 2nd quarter. Axxcess Wealth Management LLC now owns 4,386 shares of the semiconductor company’s stock valued at $2,610,000 after purchasing an additional 356 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 3.4 %

SNPS stock opened at $507.19 on Thursday. The stock has a market cap of $78.40 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.22 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The business has a 50 day moving average price of $522.21 and a 200 day moving average price of $527.43.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird lowered their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Redburn Atlantic initiated coverage on Synopsys in a research note on Monday. They issued a “buy” rating and a $600.00 price objective on the stock. Wells Fargo & Company cut their price target on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Piper Sandler reduced their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $641.82.

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.