Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Eastern Bank

Eastern Bank raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Envestnet Asset Management Inc. boosted its position in shares of Synopsys by 3.3% during the second quarter. Envestnet Asset Management Inc. now owns 164,569 shares of the semiconductor company’s stock worth $97,929,000 after buying an additional 5,236 shares during the period. Inspire Advisors LLC acquired a new position in shares of Synopsys during the second quarter worth approximately $322,000. Rathbones Group PLC boosted its position in shares of Synopsys by 16.3% during the second quarter. Rathbones Group PLC now owns 707 shares of the semiconductor company’s stock worth $421,000 after buying an additional 99 shares during the period. Walter Public Investments Inc. acquired a new position in shares of Synopsys during the second quarter worth approximately $10,744,000. Finally, Dimensional Fund Advisors LP boosted 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 worth $180,779,000 after buying an additional 43,785 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ SNPS opened at $487.43 on Tuesday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market cap of $75.35 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.41 and a beta of 1.12. The firm’s 50 day moving average price is $522.84 and its two-hundred day moving average price is $528.17.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a report on Monday. They set a “buy” rating and a $600.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company dropped their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $641.82.

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.