Quent Capital LLC Has $580,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Quent Capital LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,196 shares of the semiconductor company’s stock after selling 29 shares during the period. Quent Capital LLC’s holdings in Synopsys were worth $580,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new stake in shares of Synopsys in the third quarter worth $633,469,000. Edgewood Management LLC boosted its holdings in Synopsys by 18.9% in the 3rd quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock valued at $1,554,540,000 after purchasing an additional 487,025 shares during the period. Van ECK Associates Corp grew its position in Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after purchasing an additional 267,836 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock worth $531,056,000 after purchasing an additional 257,526 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SNPS shares. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, December 5th. Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Wells Fargo & Company reduced their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Redburn Atlantic began coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. One investment 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 presently has an average rating of “Moderate Buy” and an average target price of $641.82.

Synopsys Stock Performance

SNPS opened at $529.14 on Wednesday. The firm has a market cap of $81.79 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12. The firm’s 50-day simple moving average is $512.80 and its 200-day simple moving average is $518.34. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Insiders Place Their Bets

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

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.