Grandfield & Dodd LLC Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Grandfield & Dodd LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,864 shares of the semiconductor company’s stock after selling 817 shares during the period. Synopsys accounts for about 1.9% of Grandfield & Dodd LLC’s portfolio, making the stock its 19th largest position. Grandfield & Dodd LLC’s holdings in Synopsys were worth $30,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SNPS. Financial Advocates Investment Management lifted its position in Synopsys by 6.9% during the 3rd quarter. Financial Advocates Investment Management now owns 1,136 shares of the semiconductor company’s stock worth $575,000 after acquiring an additional 73 shares during the period. Stephens Inc. AR lifted its holdings in shares of Synopsys by 3.9% during the third quarter. Stephens Inc. AR now owns 1,530 shares of the semiconductor company’s stock worth $775,000 after purchasing an additional 58 shares during the period. Chicago Partners Investment Group LLC boosted its position in Synopsys by 8.6% in the third quarter. Chicago Partners Investment Group LLC now owns 784 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 62 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Synopsys in the third quarter valued at approximately $44,000. Finally, Arcadia Investment Management Corp MI increased its holdings in Synopsys by 100.0% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 200 shares of the semiconductor company’s stock worth $101,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $457.28 on Monday. The stock’s fifty day moving average is $506.14 and its two-hundred day moving average is $515.49. The firm has a market capitalization of $70.70 billion, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $448.11 and a fifty-two week high of $624.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNPS. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Piper Sandler reduced their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.62% of the company’s stock.

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.