Orion Portfolio Solutions LLC Buys 9,124 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Orion Portfolio Solutions LLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 53.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,272 shares of the semiconductor company's stock after buying an additional 9,124 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Synopsys were worth $13,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC increased its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock worth $25,000 after buying an additional 36 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in Synopsys in the third quarter worth about $25,000. Tsfg LLC increased its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new stake in Synopsys in the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SNPS shares. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday. Rosenblatt Securities reiterated a "buy" rating and set a $635.00 target price on shares of Synopsys in a research report on Wednesday. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price for the company. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $649.00.

Synopsys Stock Up 0.4 %

Synopsys stock traded up $1.99 during midday trading on Friday, reaching $517.28. 2,334,843 shares of the stock traded hands, compared to its average volume of 807,109. The stock has a market cap of $79.46 billion, a P/E ratio of 35.63, a PEG ratio of 3.59 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock's fifty day moving average is $529.93 and its 200-day moving average is $544.69.

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.