Quintet Private Bank Europe S.A. Buys 23,175 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Quintet Private Bank Europe S.A. lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,677 shares of the semiconductor company's stock after acquiring an additional 23,175 shares during the quarter. Synopsys accounts for about 1.9% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 16th biggest position. Quintet Private Bank Europe S.A.'s holdings in Synopsys were worth $32,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 120,575 shares during the last quarter. Capital World Investors increased its position in shares of Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after acquiring an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Finally, KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $607.14.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

Synopsys Trading Down 3.3%

NASDAQ:SNPS traded down $16.13 during trading hours on Friday, hitting $478.86. 1,162,459 shares of the stock traded hands, compared to its average volume of 1,158,402. The firm has a 50 day moving average price of $466.31 and a 200 day moving average price of $481.37. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the business earned $3.00 EPS. The company's revenue was up 10.3% on a year-over-year basis. Research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

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.