Waverly Advisors LLC Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Waverly Advisors LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 447.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the semiconductor company’s stock after buying an additional 3,523 shares during the period. Waverly Advisors LLC’s holdings in Synopsys were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SNPS. Vanguard Group Inc. lifted its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors grew its stake in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after purchasing an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after buying an additional 391,681 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $503.48 on Friday. The firm has a market capitalization of $77.85 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company’s 50-day moving average is $449.95 and its 200 day moving average is $489.07.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. KeyCorp upped their price objective on Synopsys from $555.00 to $575.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Finally, Bank of America decreased their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus target price of $614.86.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

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.