Grantham Mayo Van Otterloo & Co. LLC Purchases 5,904 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Grantham Mayo Van Otterloo & Co. LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,992 shares of the semiconductor company’s stock after buying an additional 5,904 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Synopsys were worth $16,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Curi Wealth Management LLC boosted its position in Synopsys by 18.5% in the 2nd quarter. Curi Wealth Management LLC now owns 179 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 28 shares during the period. Tortoise Investment Management LLC lifted its position in shares of Synopsys by 64.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 84 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 33 shares during the period. UMB Bank n.a. lifted its position in shares of Synopsys by 2.0% in the 2nd quarter. UMB Bank n.a. now owns 1,775 shares of the semiconductor company’s stock worth $539,000 after purchasing an additional 35 shares during the period. Mission Wealth Management LP lifted its position in shares of Synopsys by 4.6% in the 2nd quarter. Mission Wealth Management LP now owns 820 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 36 shares during the period. Finally, Atlas Capital Advisors LLC lifted its position in shares of Synopsys by 1.8% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,176 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 38 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Up 2.2 %

Shares of Synopsys stock opened at $334.29 on Thursday. Synopsys, Inc. has a 12-month low of $255.02 and a 12-month high of $391.17. The firm has a market capitalization of $51.12 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.83 and a beta of 1.18. The firm’s 50 day simple moving average is $304.21 and its two-hundred day simple moving average is $318.39.

Synopsys declared that its Board of Directors has initiated a share buyback plan on Thursday, September 1st that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNPS shares. Stifel Nicolaus started coverage on shares of Synopsys in a research report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Synopsys in a research report on Wednesday, September 28th. They issued a “buy” rating and a $420.00 price target for the company. Needham & Company LLC upped their price target on shares of Synopsys from $380.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Robert W. Baird upped their price target on shares of Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Finally, StockNews.com began coverage on shares of Synopsys in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.54.

Synopsys Company Profile

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Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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