Boston Family Office LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Boston Family Office LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,405 shares of the semiconductor company’s stock after acquiring an additional 42 shares during the period. Boston Family Office LLC’s holdings in Synopsys were worth $2,138,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SNPS. Vanguard Group Inc. lifted its position in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after buying an additional 120,575 shares in the last quarter. State Street Corp boosted its position in shares of Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock valued at $3,518,637,000 after acquiring an additional 119,057 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. Pictet Asset Management Holding SA increased its position in Synopsys by 3.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock worth $853,631,000 after purchasing an additional 60,121 shares during the last quarter. Finally, Norges Bank acquired a new position in Synopsys in the 4th quarter valued at about $583,608,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Robert W. Baird reduced their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is currently owned by company insiders.

Synopsys Price Performance

SNPS opened at $428.85 on Tuesday. The business has a fifty day moving average price of $483.67 and a 200 day moving average price of $505.29. Synopsys, Inc. has a 12 month low of $423.08 and a 12 month high of $624.80. The stock has a market capitalization of $66.31 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 3.23 and a beta of 1.16.

About Synopsys

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.