Quantbot Technologies LP Acquires New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Quantbot Technologies LP bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,059 shares of the semiconductor company’s stock, valued at approximately $2,562,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its position in shares of Synopsys by 13.9% in the third quarter. D.A. Davidson & CO. now owns 4,118 shares of the semiconductor company’s stock valued at $2,085,000 after buying an additional 502 shares during the last quarter. Bank of Montreal Can grew its stake in Synopsys by 3.2% in the 3rd quarter. Bank of Montreal Can now owns 230,983 shares of the semiconductor company’s stock worth $118,566,000 after acquiring an additional 7,137 shares during the period. Truvestments Capital LLC raised its holdings in Synopsys by 32.4% in the 3rd quarter. Truvestments Capital LLC now owns 952 shares of the semiconductor company’s stock valued at $482,000 after acquiring an additional 233 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Synopsys by 221.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,808 shares of the semiconductor company’s stock worth $916,000 after purchasing an additional 1,246 shares during the period. Finally, Boston Family Office LLC boosted its holdings in shares of Synopsys by 9.3% during the third quarter. Boston Family Office LLC now owns 4,363 shares of the semiconductor company’s stock worth $2,209,000 after purchasing an additional 373 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SNPS shares. Wells Fargo & Company assumed coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 target price for the company. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $653.80.

Synopsys Price Performance

NASDAQ:SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The business’s 50-day moving average is $524.12 and its two-hundred day moving average is $545.71. The firm has a market capitalization of $84.14 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 3.43 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.