Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,333 shares of the semiconductor company’s stock after selling 3,334 shares during the period. Synopsys comprises approximately 2.4% of Grandfield & Dodd LLC’s portfolio, making the stock its 8th biggest position. Grandfield & Dodd LLC’s holdings in Synopsys were worth $35,185,000 at the end of the most recent quarter.

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

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock worth $15,464,992 in the last three months. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Synopsys Price Performance

SNPS stock traded down $9.00 during trading hours on Friday, reaching $510.71. 1,192,553 shares of the stock were exchanged, compared to its average volume of 880,871. The firm’s 50-day moving average is $566.66 and its 200-day moving average is $533.75. The company 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.

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

Synopsys Company 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.