Waverton Investment Management Ltd Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Waverton Investment Management Ltd grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 402,968 shares of the semiconductor company’s stock after acquiring an additional 71,143 shares during the period. Synopsys accounts for 3.1% of Waverton Investment Management Ltd’s portfolio, making the stock its 15th largest holding. Waverton Investment Management Ltd’s holdings in Synopsys were worth $195,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. Parnassus Investments LLC bought a new position in Synopsys in the 3rd quarter worth $633,469,000. Edgewood Management LLC increased its position in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after buying an additional 335,993 shares during the period. 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 buying an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % 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.

Synopsys Trading Down 3.9 %

Shares of Synopsys stock opened at $474.84 on Monday. The firm has a market cap of $73.40 billion, a PE ratio of 32.70, a PEG ratio of 3.23 and a beta of 1.12. The stock has a 50 day moving average of $510.21 and a 200 day moving average of $517.67. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Analysts Set New Price Targets

A number of research firms have commented on SNPS. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.