Simon Quick Advisors LLC Has $605,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Simon Quick Advisors LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 121.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,411 shares of the semiconductor company's stock after buying an additional 774 shares during the quarter. Simon Quick Advisors LLC's holdings in Synopsys were worth $605,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNPS. Norges Bank bought a new position in Synopsys in the fourth quarter valued at approximately $583,608,000. GAMMA Investing LLC grew its stake in Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $239,864,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $199,065,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNPS shares. Morgan Stanley cut 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. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $607.14.

Synopsys Stock Down 3.3%

Shares of SNPS traded down $16.13 during midday trading on Friday, hitting $478.86. The company's stock had a trading volume of 1,162,459 shares, compared to its average volume of 1,158,402. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company's fifty day simple moving average is $466.31 and its two-hundred day simple moving average is $481.37. The stock has a market capitalization of $74.30 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly 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 return on equity of 20.48% and a net margin of 36.12%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company posted $3.00 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing 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 dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate 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.