Alliancebernstein L.P. Sells 780 Shares of Synopsys, Inc. (SNPS)

Alliancebernstein L.P. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.3% in the 3rd quarter, Holdings Channel reports. The firm owned 247,917 shares of the semiconductor company’s stock after selling 780 shares during the period. Alliancebernstein L.P.’s holdings in Synopsys were worth $24,447,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. Robecosam AG increased its stake in Synopsys by 22.4% during the second quarter. Robecosam AG now owns 3,000 shares of the semiconductor company’s stock worth $255,000 after acquiring an additional 550 shares during the last quarter. Intrust Bank NA increased its stake in Synopsys by 11.9% during the second quarter. Intrust Bank NA now owns 5,681 shares of the semiconductor company’s stock worth $486,000 after acquiring an additional 606 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Synopsys by 1.4% during the third quarter. Gulf International Bank UK Ltd now owns 46,366 shares of the semiconductor company’s stock worth $4,572,000 after acquiring an additional 647 shares during the last quarter. CIBC Asset Management Inc increased its stake in Synopsys by 3.0% during the second quarter. CIBC Asset Management Inc now owns 23,635 shares of the semiconductor company’s stock worth $2,022,000 after acquiring an additional 683 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its stake in Synopsys by 5.0% during the third quarter. Bbva Compass Bancshares Inc. now owns 15,820 shares of the semiconductor company’s stock worth $1,560,000 after acquiring an additional 755 shares during the last quarter. 91.70% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on SNPS. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. DA Davidson raised their target price on Synopsys to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. raised their target price on Synopsys to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, August 23rd. KeyCorp raised their target price on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $106.86.

SNPS opened at $91.94 on Monday. Synopsys, Inc. has a 52 week low of $80.13 and a 52 week high of $103.40. The firm has a market cap of $13.66 billion, a PE ratio of 104.48, a PEG ratio of 3.61 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04.

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Synopsys Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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