1858 Wealth Management LLC Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

1858 Wealth Management LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 76.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 783 shares of the semiconductor company’s stock after acquiring an additional 340 shares during the period. 1858 Wealth Management LLC’s holdings in Synopsys were worth $397,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. James Hambro & Partners LLP lifted its position in shares of Synopsys by 30.9% in the third quarter. James Hambro & Partners LLP now owns 153,933 shares of the semiconductor company’s stock valued at $77,995,000 after acquiring an additional 36,334 shares in the last quarter. Trilogy Capital Inc. lifted its position in shares of Synopsys by 58.1% in the third quarter. Trilogy Capital Inc. now owns 3,001 shares of the semiconductor company’s stock worth $1,520,000 after buying an additional 1,103 shares in the last quarter. Barden Capital Management Inc. lifted its position in shares of Synopsys by 6.0% in the third quarter. Barden Capital Management Inc. now owns 1,812 shares of the semiconductor company’s stock worth $918,000 after buying an additional 103 shares in the last quarter. Veracity Capital LLC lifted its position in shares of Synopsys by 17.7% in the third quarter. Veracity Capital LLC now owns 1,244 shares of the semiconductor company’s stock worth $630,000 after buying an additional 187 shares in the last quarter. Finally, Meridiem Investment Management Ltd. lifted its position in shares of Synopsys by 1.7% in the third quarter. Meridiem Investment Management Ltd. now owns 492,852 shares of the semiconductor company’s stock worth $249,677,000 after buying an additional 8,018 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Synopsys stock traded down $2.00 during mid-day trading on Monday, reaching $505.03. 269,418 shares of the company were exchanged, compared to its average volume of 1,076,503. The business has a fifty day moving average of $512.02 and a 200 day moving average of $547.55. The firm has a market cap of $77.58 billion, a P/E ratio of 52.30, a PEG ratio of 3.47 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $644.00.

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.