Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Purchases 29,497 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 197,024 shares of the semiconductor company's stock after acquiring an additional 29,497 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.13% of Synopsys worth $83,189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Capital Management LLC boosted its holdings in shares of Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the period. Peninsula Wealth LLC lifted its stake in Synopsys by 0.5% in the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after purchasing an additional 20 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. boosted its position in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after buying an additional 22 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNPS shares. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Bank of America decreased their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Piper Sandler reiterated an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive now directly owns 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Synopsys Trading Up 1.7%

NASDAQ:SNPS opened at $495.70 on Friday. The company has a 50-day moving average price of $477.55 and a 200-day moving average price of $477.60. The stock has a market cap of $76.91 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 3.22 and a beta of 1.11. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80.

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

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.

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