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

Waverton Investment Management Ltd lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 502,925 shares of the semiconductor company's stock after buying an additional 99,957 shares during the period. Synopsys makes up about 3.3% of Waverton Investment Management Ltd's holdings, making the stock its 12th biggest holding. Waverton Investment Management Ltd owned 0.33% of Synopsys worth $215,576,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in Synopsys by 2.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 46,347 shares of the semiconductor company's stock valued at $19,876,000 after buying an additional 1,163 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Synopsys by 12.1% in the first quarter. Transcend Capital Advisors LLC now owns 2,016 shares of the semiconductor company's stock valued at $865,000 after purchasing an additional 218 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Synopsys by 17.6% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 197,024 shares of the semiconductor company's stock valued at $83,189,000 after purchasing an additional 29,497 shares in the last quarter. Park Place Capital Corp increased its stake in shares of Synopsys by 64.0% in the first quarter. Park Place Capital Corp now owns 628 shares of the semiconductor company's stock worth $269,000 after buying an additional 245 shares during the last quarter. Finally, CNB Bank increased its position in shares of Synopsys by 12.2% in the 1st quarter. CNB Bank now owns 2,351 shares of the semiconductor company's stock worth $1,008,000 after purchasing an additional 255 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive now directly owns 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last ninety days. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNPS. Rosenblatt Securities reduced their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Bank of America reduced their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp set a $540.00 price target on shares of Synopsys in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $607.14.

Synopsys Trading Up 1.7%

Shares of NASDAQ:SNPS opened at $495.70 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock's 50-day moving average is $477.55 and its 200-day moving average is $477.60. The company has a market cap of $76.91 billion, a P/E ratio of 35.79, a P/E/G ratio of 3.22 and a beta of 1.11. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $3.00 earnings per share. Synopsys's quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.

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