Grandfield & Dodd LLC Sells 286 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Grandfield & Dodd LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 64,681 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Synopsys comprises 1.9% of Grandfield & Dodd LLC’s holdings, making the stock its 19th largest holding. Grandfield & Dodd LLC’s holdings in Synopsys were worth $32,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC grew its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the 3rd quarter worth $25,000. Tsfg LLC raised its position in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc bought a new position in shares of Synopsys during the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Performance

Synopsys stock opened at $534.02 on Wednesday. The stock has a market cap of $82.03 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The stock has a 50-day moving average of $516.71 and a two-hundred day moving average of $545.49. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on SNPS. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Piper Sandler dropped their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $649.82.

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.