Trexquant Investment LP Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Trexquant Investment LP acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 36,657 shares of the semiconductor company's stock, valued at approximately $17,792,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SNPS. Kieckhefer Group LLC bought a new position in Synopsys during the fourth quarter valued at about $27,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys in the 4th quarter worth approximately $39,000. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys in the 4th quarter worth $51,000. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company's stock.

Synopsys Trading Down 7.1 %

NASDAQ SNPS traded down $29.63 during trading on Friday, hitting $388.13. 2,513,019 shares of the company's stock were exchanged, compared to its average volume of 1,065,266. The company has a market cap of $60.01 billion, a PE ratio of 26.73, a P/E/G ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a fifty-two week low of $387.41 and a fifty-two week high of $624.80. The stock's 50 day moving average price is $473.83 and its two-hundred day moving average price is $503.09.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNPS shares. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Redburn Atlantic started coverage on Synopsys in a research report on Monday, January 13th. They set a "buy" rating and a $600.00 price objective for the company. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $638.58.

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.