State Street Corp Has $3.52 Billion Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

State Street Corp boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,948,473 shares of the semiconductor company’s stock after purchasing an additional 119,057 shares during the period. State Street Corp’s holdings in Synopsys were worth $3,518,637,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Andina Capital Management LLC lifted its stake in 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 lifted its stake in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Green Alpha Advisors LLC lifted its stake in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research reports. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised 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, Wells Fargo & Company initiated coverage on shares of Synopsys in a research report on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $650.50.

Synopsys Trading Down 12.4 %

Shares of SNPS opened at $515.29 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm’s 50 day moving average is $529.85 and its 200-day moving average is $545.47. The stock has a market capitalization of $79.15 billion, a PE ratio of 53.45, a P/E/G ratio of 3.48 and a beta of 1.08.

Synopsys Company 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.