Legato Capital Management LLC Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Legato Capital Management LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,500 shares of the semiconductor company’s stock after buying an additional 140 shares during the quarter. Legato Capital Management LLC’s holdings in Synopsys were worth $1,213,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its position in Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after purchasing an additional 119,057 shares during the period. Geode Capital Management LLC boosted its position in shares of Synopsys by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock worth $1,656,005,000 after buying an additional 61,799 shares during the period. Edgewood Management LLC grew its stake in shares of Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after buying an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new position in Synopsys in the 3rd quarter worth approximately $633,469,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 3.7 %

SNPS stock opened at $509.71 on Thursday. The firm’s 50-day simple moving average is $511.98 and its 200 day simple moving average is $518.22. The stock has a market cap of $78.79 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, December 5th. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. 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. Piper Sandler dropped their target price on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Robert W. Baird reduced their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and a consensus price target 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.