Quadrant Capital Group LLC Has $817,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Quadrant Capital Group LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the semiconductor company’s stock after selling 32 shares during the period. Quadrant Capital Group LLC’s holdings in Synopsys were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 120,575 shares during the period. Geode Capital Management LLC grew its position in shares of Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after buying an additional 75,298 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Synopsys by 3.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,758,759 shares of the semiconductor company’s stock valued at $853,631,000 after acquiring an additional 60,121 shares during the last quarter. Norges Bank acquired a new stake in shares of Synopsys in the 4th quarter valued at approximately $583,608,000. Finally, Bank of New York Mellon Corp boosted its stake in Synopsys by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,086,249 shares of the semiconductor company’s stock worth $527,222,000 after acquiring an additional 3,533 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’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 transaction of $6,979,616.10. Following the sale, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 in the last three months. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 7.1 %

Shares of SNPS opened at $388.13 on Monday. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $358.15 and a 12 month high of $624.80. The firm has a fifty day simple moving average of $473.83 and a 200 day simple moving average of $503.14.

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.