Quintet Private Bank Europe S.A. Decreases Stock Holdings in Synopsys, Inc. $SNPS

Quintet Private Bank Europe S.A. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,719 shares of the semiconductor company’s stock after selling 3,958 shares during the period. Synopsys accounts for 2.1% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 10th largest holding. Quintet Private Bank Europe S.A.’s holdings in Synopsys were worth $36,769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Cornerstone Planning Group LLC increased its stake in shares of Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Synopsys in the first quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter worth $29,000. Finally, WPG Advisers LLC purchased a new stake in shares of Synopsys in the first quarter worth $34,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction on Friday, September 5th. The shares were sold at an average price of $609.77, for a total value of $2,228,709.35. Following the completion of the transaction, the chief financial officer directly owned 15,317 shares of the company’s stock, valued at $9,339,847.09. This trade represents a 19.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares of the company’s stock, valued at $42,181,951.15. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock valued at $13,168,999 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNPS. Baird R W cut shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Citigroup cut shares of Synopsys from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $605.00 target price (down from $650.00) on shares of Synopsys in a research note on Wednesday, September 10th. Stifel Nicolaus cut their target price on shares of Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Finally, Morgan Stanley cut their target price on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $585.33.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $425.45 on Monday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The stock has a market capitalization of $79.03 billion, a P/E ratio of 33.39, a PEG ratio of 5.60 and a beta of 1.14. The firm has a fifty day simple moving average of $590.39 and a two-hundred day simple moving average of $507.16. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

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.