Simon Quick Advisors LLC Sells 420 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Simon Quick Advisors LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 39.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637 shares of the semiconductor company’s stock after selling 420 shares during the quarter. Simon Quick Advisors LLC’s holdings in Synopsys were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. APG Asset Management US Inc. boosted its stake in Synopsys by 2.2% in the second quarter. APG Asset Management US Inc. now owns 47,487 shares of the semiconductor company’s stock worth $28,575,000 after purchasing an additional 1,012 shares in the last quarter. APG Asset Management N.V. grew its holdings in Synopsys by 32.3% during the 2nd quarter. APG Asset Management N.V. now owns 159,541 shares of the semiconductor company’s stock worth $88,581,000 after acquiring an additional 38,972 shares during the last quarter. Employees Retirement System of Texas increased its position in Synopsys by 73.8% in the 2nd quarter. Employees Retirement System of Texas now owns 15,631 shares of the semiconductor company’s stock valued at $9,301,000 after acquiring an additional 6,635 shares in the last quarter. DeepCurrents Investment Group LLC bought a new position in shares of Synopsys in the second quarter worth about $227,000. Finally, MBB Public Markets I LLC acquired a new position in shares of Synopsys during the second quarter worth approximately $6,553,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $551.54 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The stock has a market cap of $85.26 billion, a P/E ratio of 37.98, a P/E/G ratio of 3.47 and a beta of 1.12. The firm has a 50 day moving average price of $518.10 and a 200 day moving average price of $524.47.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Redburn Atlantic began coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

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.