Foster Dykema Cabot & Partners LLC Has $23.80 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Foster Dykema Cabot & Partners LLC increased its holdings in Synopsys, owning a total of 55,490 shares valued at approximately $23.8 million after acquiring an additional 2,431 shares.
• Multiple hedge funds have adjusted their positions in Synopsys, with SlateStone Wealth LLC significantly increasing its stake by 467.8%, while 85.47% of the stock is currently owned by institutional investors.
• Analysts have a positive outlook on Synopsys, with a majority rating the stock as a "buy" and an average target price of $622.33.

Foster Dykema Cabot & Partners LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,490 shares of the semiconductor company's stock after purchasing an additional 2,431 shares during the quarter. Synopsys makes up about 1.9% of Foster Dykema Cabot & Partners LLC's investment portfolio, making the stock its 19th largest holding. Foster Dykema Cabot & Partners LLC's holdings in Synopsys were worth $23,797,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. Ameriflex Group Inc. acquired a new stake in Synopsys in the fourth quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the period. Cloud Capital Management LLC acquired a new stake in Synopsys in the first quarter worth about $36,000. Meeder Asset Management Inc. lifted its holdings in Synopsys by 33.3% in the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 26 shares during the period. Finally, GoalVest Advisory LLC acquired a new stake in Synopsys in the first quarter worth about $50,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Piper Sandler boosted their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Bank of America boosted their price target on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target on the stock. Finally, Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $622.33.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by company insiders.

Synopsys Trading Down 0.1%

NASDAQ SNPS traded down $0.91 on Friday, hitting $619.42. 700,625 shares of the company were exchanged, compared to its average volume of 2,474,175. The company's 50 day moving average price is $544.48 and its 200-day moving average price is $495.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The firm has a market capitalization of $96.11 billion, a P/E ratio of 44.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.15. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $3.00 earnings per share. Analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

About Synopsys

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.