Synopsys, Inc. (NASDAQ:SNPS) Holdings Increased by Legato Capital Management LLC

Legato Capital Management LLC increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.9% in the 4th quarter, HoldingsChannel reports. The fund owned 2,500 shares of the semiconductor company’s stock after acquiring an additional 140 shares during the period. Legato Capital Management LLC’s holdings in Synopsys were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Davidson Capital Management Inc. increased its position in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after purchasing an additional 4,736 shares during the period. Peloton Wealth Strategists boosted its stake in Synopsys by 221.2% during the third quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock valued at $1,459,000 after buying an additional 1,984 shares in the last quarter. Swiss National Bank grew its holdings in Synopsys by 0.7% during the third quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after acquiring an additional 3,200 shares during the period. Parnassus Investments LLC bought a new stake in Synopsys in the third quarter worth about $633,469,000. Finally, Harvest Portfolios Group Inc. lifted its holdings in Synopsys by 3.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 3.7 %

Shares of NASDAQ SNPS opened at $509.71 on Thursday. The firm has a market capitalization of $78.79 billion, a PE ratio of 35.10, a PEG ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The business has a 50-day moving average price of $511.98 and a two-hundred day moving average price of $518.22.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred 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 completion of the sale, the executive now owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNPS. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Wells Fargo & Company reduced their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $641.82.

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.