Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $485,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 910 shares of the semiconductor company’s stock after buying an additional 60 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Synopsys were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Ritholtz Wealth Management lifted its holdings in shares of Synopsys by 37.3% in the third quarter. Ritholtz Wealth Management now owns 1,583 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 430 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Synopsys by 15.2% in the 3rd quarter. Global Retirement Partners LLC now owns 774 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 102 shares in the last quarter. Naples Global Advisors LLC purchased a new position in Synopsys during the 3rd quarter valued at about $233,000. DAVENPORT & Co LLC purchased a new stake in shares of Synopsys in the third quarter worth approximately $208,000. Finally, Eastern Bank acquired a new position in Synopsys in the 3rd quarter valued at approximately $760,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was 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 of the company’s stock, valued at $11,587,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Marc N. Casper bought 750 shares of Synopsys stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on 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 owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird boosted their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Stock Performance

Shares of Synopsys stock traded up $12.77 on Tuesday, reaching $528.26. The stock had a trading volume of 789,741 shares, compared to its average volume of 1,232,722. The business’s 50-day moving average price is $565.59 and its two-hundred day moving average price is $535.24. The stock has a market cap of $80.56 billion, a P/E ratio of 56.77, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week 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 for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal 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.