Waverton Investment Management Ltd Buys 57,373 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Waverton Investment Management Ltd increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,825 shares of the semiconductor company’s stock after buying an additional 57,373 shares during the quarter. Synopsys accounts for 2.8% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 19th largest holding. Waverton Investment Management Ltd’s holdings in Synopsys were worth $168,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Atomi Financial Group Inc. grew its stake in Synopsys by 53.8% in the 1st quarter. Atomi Financial Group Inc. now owns 632 shares of the semiconductor company’s stock valued at $361,000 after purchasing an additional 221 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Synopsys during the 1st quarter worth $218,000. Meeder Asset Management Inc. grew its stake in shares of Synopsys by 13.4% during the 1st quarter. Meeder Asset Management Inc. now owns 585 shares of the semiconductor company’s stock worth $334,000 after acquiring an additional 69 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Synopsys by 22.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,467 shares of the semiconductor company’s stock worth $2,553,000 after acquiring an additional 827 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Synopsys by 0.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,483 shares of the semiconductor company’s stock worth $19,136,000 after acquiring an additional 179 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Loop Capital assumed coverage on Synopsys in a report on Monday. They set a “buy” rating and a $675.00 price objective on the stock. Finally, Mizuho assumed coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $649.82.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Trading Down 0.9 %

Shares of Synopsys stock opened at $556.26 on Tuesday. The firm has a market capitalization of $85.45 billion, a PE ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The business’s 50-day moving average price is $507.77 and its 200-day moving average price is $545.05. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $2.17 EPS. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.