Bank of Montreal Can Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Bank of Montreal Can lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.2% in the third quarter, HoldingsChannel.com reports. The firm owned 230,983 shares of the semiconductor company’s stock after purchasing an additional 7,137 shares during the period. Bank of Montreal Can’s holdings in Synopsys were worth $118,566,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Andina Capital Management LLC lifted its holdings in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares during the period. Cascade Financial Partners LLC raised its holdings in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% in the third 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 boosted its holdings in Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its position in Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Loop Capital began coverage on Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Piper Sandler dropped their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $644.36.

Synopsys Stock Performance

NASDAQ:SNPS opened at $553.95 on Wednesday. The firm has a market cap of $85.09 billion, a P/E ratio of 57.46, a P/E/G ratio of 3.43 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The firm has a 50-day simple moving average of $523.08 and a two-hundred day simple moving average of $545.69.

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.