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

Cerity Partners LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 23.4% during the third quarter, HoldingsChannel.com reports. The fund owned 47,954 shares of the semiconductor company’s stock after buying 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Andina Capital Management LLC increased its stake in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC boosted its stake in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Hilltop National Bank raised its stake in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its holdings in shares of Synopsys by 1.7% in the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Robert W. Baird lifted 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. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Wells Fargo & Company initiated coverage on Synopsys in a research report on Friday. They set an “equal weight” rating and a $570.00 price objective on the stock. Finally, Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Price Performance

Synopsys stock opened at $565.07 on Monday. The stock’s 50 day moving average is $520.78 and its 200 day moving average is $545.63. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $86.80 billion, a P/E ratio of 58.62, a P/E/G ratio of 3.45 and a beta of 1.08.

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.