Boston Family Office LLC Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Boston Family Office LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,405 shares of the semiconductor company’s stock after buying an additional 42 shares during the quarter. Boston Family Office LLC’s holdings in Synopsys were worth $2,138,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Caprock Group LLC grew its stake in Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its position in Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares during the last quarter. Edge Capital Group LLC increased its holdings in Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after buying an additional 20 shares during the period. Barden Capital Management Inc. raised its position in Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after buying an additional 20 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Synopsys stock opened at $428.85 on Tuesday. The company’s fifty day moving average price is $483.67 and its 200 day moving average price is $505.29. The stock has a market capitalization of $66.31 billion, a P/E ratio of 29.54, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $423.08 and a 1 year high of $624.80.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,909 shares of company stock worth $22,794,835 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

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.