Synopsys, Inc. (NASDAQ:SNPS) Holdings Trimmed by Quent Capital LLC

Quent Capital LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,117 shares of the semiconductor company’s stock after selling 105 shares during the quarter. Quent Capital LLC’s holdings in Synopsys were worth $486,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SNPS. Cibc World Market Inc. lifted its holdings in shares of Synopsys by 58.8% during the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after purchasing an additional 4,402 shares during the last quarter. Prudential PLC purchased a new stake in shares of Synopsys during the first quarter valued at $993,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Synopsys during the first quarter valued at $240,000. Covestor Ltd lifted its holdings in shares of Synopsys by 18.9% during the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 43 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Synopsys by 64.4% during the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 658 shares during the last quarter. 84.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNPS. JPMorgan Chase & Co. upped their target price on Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. KeyCorp increased their price objective on Synopsys from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. StockNews.com raised Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Robert W. Baird increased their price objective on Synopsys from $491.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, Stifel Nicolaus increased their price objective on Synopsys from $445.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $462.50.

Synopsys Price Performance

SNPS opened at $451.93 on Friday. The company has a market capitalization of $68.74 billion, a PE ratio of 67.76, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The business has a 50-day moving average of $448.02 and a 200-day moving average of $414.73. Synopsys, Inc. has a fifty-two week low of $267.00 and a fifty-two week high of $471.15.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.14. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Synopsys had a return on equity of 18.01% and a net margin of 18.71%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 7.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Sudhindra Kankanwadi sold 5,100 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $460.75, for a total transaction of $2,349,825.00. Following the transaction, the chief accounting officer now owns 16,793 shares of the company’s stock, valued at approximately $7,737,374.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $460.75, for a total value of $2,349,825.00. Following the sale, the chief accounting officer now owns 16,793 shares of the company’s stock, valued at approximately $7,737,374.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 2,507 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $455.00, for a total value of $1,140,685.00. Following the completion of the sale, the insider now directly owns 24,732 shares in the company, valued at approximately $11,253,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,953 shares of company stock valued at $22,116,008. Insiders own 0.69% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.