Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 60 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 910 shares of the semiconductor company’s stock after buying an additional 60 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Synopsys were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. Gotham Asset Management LLC boosted its holdings in 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 acquiring an additional 2,227 shares in the last quarter. abrdn plc grew its position in Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the period. Comerica Bank acquired a new position in Synopsys during the third quarter worth $14,203,000. Simplicity Solutions LLC grew its holdings in shares of 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 buying an additional 1,539 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Synopsys during the third quarter worth about $1,606,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird lifted 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, Piper Sandler started coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $601.00.

Insider Activity at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the company’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 sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction dated Tuesday, February 27th. The stock was 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 of the company’s stock, valued at approximately $11,453,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,832 shares of company stock worth $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $12.77 during mid-day trading on Tuesday, reaching $528.26. 789,741 shares of the company’s stock were exchanged, compared to its average volume of 1,232,722. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 56.77, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. The firm has a 50-day moving average price of $565.59 and a two-hundred day moving average price of $535.24. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38.

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