MML Investors Services LLC Has $9.84 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

MML Investors Services LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,436 shares of the semiconductor company’s stock after selling 302 shares during the period. MML Investors Services LLC’s holdings in Synopsys were worth $9,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC acquired a new stake in Synopsys in the 3rd quarter worth about $633,469,000. Sustainable Growth Advisers LP acquired a new stake in Synopsys during the second quarter worth approximately $572,050,000. Edgewood Management LLC increased its stake in Synopsys by 18.9% during the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares during the period. Van ECK Associates Corp raised its holdings in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after acquiring an additional 267,836 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNPS shares. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company initiated coverage on shares of Synopsys in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $570.00 price objective on the stock. Robert W. Baird cut their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $649.00.

Synopsys Stock Performance

Shares of SNPS opened at $505.32 on Wednesday. The firm has a market cap of $77.62 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The business’s 50 day moving average price is $529.97 and its two-hundred day moving average price is $544.15.

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.