Synopsys, Inc. (NASDAQ:SNPS) is Grandfield & Dodd LLC’s 8th Largest Position

Grandfield & Dodd LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.7% in the fourth quarter, Holdings Channel reports. The firm owned 68,333 shares of the semiconductor company’s stock after selling 3,334 shares during the quarter. Synopsys accounts for 2.4% of Grandfield & Dodd LLC’s holdings, making the stock its 8th biggest holding. Grandfield & Dodd LLC’s holdings in Synopsys were worth $35,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gotham Asset Management LLC increased its stake in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares in the last quarter. Comerica Bank bought a new stake in Synopsys during the 3rd quarter valued at about $14,203,000. Simplicity Solutions LLC increased its stake in Synopsys by 55.5% during the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 1,539 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new stake in Synopsys during the 3rd quarter valued at about $1,606,000. Finally, DNB Asset Management AS grew its stake in shares of Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after acquiring an additional 8,259 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Stock Performance

Shares of SNPS traded down $9.00 during mid-day trading on Friday, reaching $510.71. The stock had a trading volume of 1,192,553 shares, compared to its average volume of 880,871. The firm has a market cap of $77.88 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 3.04 and a beta of 1.06. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The business has a fifty day moving average of $566.66 and a 200 day moving average of $533.75.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. On average, research analysts forecast that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by insiders.

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.