Grandfield & Dodd LLC Sells 1,604 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Grandfield & Dodd LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,729 shares of the semiconductor company’s stock after selling 1,604 shares during the period. Synopsys comprises 2.4% of Grandfield & Dodd LLC’s portfolio, making the stock its 12th biggest position. Grandfield & Dodd LLC’s holdings in Synopsys were worth $38,136,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in Synopsys by 0.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 10,393 shares of the semiconductor company’s stock valued at $4,770,000 after buying an additional 68 shares during the period. Townsquare Capital LLC raised its position in shares of Synopsys by 21.4% in the 3rd quarter. Townsquare Capital LLC now owns 3,645 shares of the semiconductor company’s stock worth $1,673,000 after acquiring an additional 642 shares in the last quarter. Creative Planning lifted its stake in shares of Synopsys by 9.7% during the 3rd quarter. Creative Planning now owns 12,090 shares of the semiconductor company’s stock worth $5,549,000 after purchasing an additional 1,071 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in Synopsys during the third quarter valued at about $226,000. Finally, Diversified Trust Co grew its stake in Synopsys by 0.6% in the third quarter. Diversified Trust Co now owns 5,610 shares of the semiconductor company’s stock valued at $2,575,000 after purchasing an additional 33 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird increased their price objective on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $627.18.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. Insiders sold a total of 72,222 shares of company stock valued at $43,691,039 over the last 90 days. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

SNPS traded down $10.82 on Thursday, reaching $608.74. 552,877 shares of the stock were exchanged, compared to its average volume of 1,070,910. The company’s 50-day moving average price is $584.56 and its 200 day moving average price is $559.95. The firm has a market capitalization of $93.27 billion, a PE ratio of 66.17, a PEG ratio of 3.97 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Synopsys’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal 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.