Brooklyn Investment Group Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Brooklyn Investment Group grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 599 shares of the semiconductor company’s stock after purchasing an additional 67 shares during the quarter. Brooklyn Investment Group’s holdings in Synopsys were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Andina Capital Management LLC lifted its position in Synopsys by 2.8% during the second 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 in the last quarter. Cascade Financial Partners LLC increased its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the period. Hilltop National Bank lifted its holdings in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC boosted its position 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 purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $553.95 on Wednesday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company’s fifty day moving average is $523.08 and its 200 day moving average is $545.69. The stock has a market capitalization of $85.09 billion, a PE ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler lowered their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Mizuho initiated coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $644.36.

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.