Circle Wealth Management LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Circle Wealth Management LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 55.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,137 shares of the semiconductor company’s stock after buying an additional 1,471 shares during the quarter. Circle Wealth Management LLC’s holdings in Synopsys were worth $2,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. B. Riley Wealth Advisors Inc. raised its holdings in shares of Synopsys by 39.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $914,000 after buying an additional 453 shares during the period. Cetera Investment Advisers increased its stake in shares of Synopsys by 284.9% during the first quarter. Cetera Investment Advisers now owns 27,885 shares of the semiconductor company’s stock worth $15,936,000 after buying an additional 20,641 shares during the period. Cetera Advisors LLC lifted its stake in Synopsys by 59.8% in the first quarter. Cetera Advisors LLC now owns 9,586 shares of the semiconductor company’s stock worth $5,478,000 after acquiring an additional 3,589 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Synopsys by 18.4% during the first quarter. EverSource Wealth Advisors LLC now owns 611 shares of the semiconductor company’s stock worth $324,000 after purchasing an additional 95 shares in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new position in Synopsys in the second quarter valued at $828,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 2.0 %

Shares of NASDAQ:SNPS opened at $558.49 on Friday. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm’s 50-day simple moving average is $525.83 and its 200-day simple moving average is $545.73. The company has a market cap of $85.79 billion, a price-to-earnings ratio of 57.93, a PEG ratio of 3.34 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNPS shares. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Loop Capital assumed coverage on 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 set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $653.80.

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.