Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $75.41 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 128.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,273 shares of the semiconductor company’s stock after purchasing an additional 85,475 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Synopsys were worth $75,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Swedbank AB acquired a new position in Synopsys during the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after buying an additional 1,514,449 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Synopsys in the second quarter valued at about $572,050,000. Finally, Capital World Investors increased its position in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNPS shares. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus price target of $643.00.

Synopsys Stock Performance

Shares of SNPS stock traded down $5.83 during midday trading on Wednesday, hitting $523.38. 49,119 shares of the company were exchanged, compared to its average volume of 1,065,529. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market capitalization of $80.40 billion, a P/E ratio of 54.31, a PEG ratio of 3.52 and a beta of 1.08. The firm’s 50 day moving average price is $506.64 and its two-hundred day moving average price is $544.42.

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