Cerity Partners LLC Buys 9,078 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Cerity Partners LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 23.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,954 shares of the semiconductor company’s stock after acquiring an additional 9,078 shares during the quarter. Cerity Partners LLC’s holdings in Synopsys were worth $24,284,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC increased its stake in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the 3rd quarter valued at $25,000. Tsfg LLC increased its position in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNPS shares. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.36.

Synopsys Stock Performance

SNPS opened at $565.07 on Monday. The business’s 50-day simple moving average is $520.78 and its 200 day simple moving average is $545.63. 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 $86.80 billion, a PE ratio of 58.62, a PEG ratio of 3.45 and a beta of 1.08.

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.