Synopsys, Inc. (NASDAQ:SNPS) Stake Lifted by Waverton Investment Management Ltd

Waverton Investment Management Ltd lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331,825 shares of the semiconductor company's stock after buying an additional 57,373 shares during the period. Synopsys makes up about 2.8% of Waverton Investment Management Ltd's holdings, making the stock its 19th biggest holding. Waverton Investment Management Ltd owned 0.22% of Synopsys worth $168,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Apollon Wealth Management LLC increased its holdings in shares of Synopsys by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,505 shares of the semiconductor company's stock worth $2,281,000 after buying an additional 214 shares during the last quarter. Coalescence Partners Investment Management LP increased its holdings in shares of Synopsys by 49.0% during the 3rd quarter. Coalescence Partners Investment Management LP now owns 21,777 shares of the semiconductor company's stock worth $11,028,000 after buying an additional 7,165 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Synopsys by 4.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,121 shares of the semiconductor company's stock worth $568,000 after buying an additional 46 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Synopsys by 44.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 35,158 shares of the semiconductor company's stock worth $17,804,000 after buying an additional 10,878 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Synopsys by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,089 shares of the semiconductor company's stock worth $4,602,000 after buying an additional 464 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNPS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler decreased their price target on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a "buy" rating and a $660.00 price target for the company. Loop Capital started coverage on shares of Synopsys in a research report on Monday. They set a "buy" rating and a $675.00 price target for the company. Finally, Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $649.82.

Synopsys Trading Down 0.5 %

NASDAQ:SNPS traded down $2.79 on Tuesday, reaching $553.47. The stock had a trading volume of 607,181 shares, compared to its average volume of 1,063,477. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a 50-day moving average of $508.51 and a 200 day moving average of $545.23. The stock has a market cap of $85.02 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter last year, the company posted $2.17 earnings per share. The company's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Synopsys Company 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.