Citizens Financial Group Inc. RI Purchases New Position in Synopsys, Inc. (NASDAQ:SNPS)

Citizens Financial Group Inc. RI acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 452 shares of the semiconductor company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Davidson Capital Management Inc. raised its stake in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Swiss National Bank raised its position in Synopsys by 0.7% in the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the period. Parnassus Investments LLC purchased a new stake in shares of Synopsys during the 3rd quarter valued at about $633,469,000. Finally, Jacobs & Co. CA bought a new stake in shares of Synopsys in the third quarter worth approximately $10,554,000. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNPS. Loop Capital assumed coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Trading Up 1.3 %

NASDAQ SNPS opened at $565.07 on Friday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a market cap of $86.80 billion, a price-to-earnings ratio of 58.62, a PEG ratio of 3.40 and a beta of 1.08. The company’s 50 day moving average is $520.78 and its two-hundred day moving average is $545.66.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

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.