QVT Financial LP Acquires Shares of 3,886 Synopsys, Inc. (NASDAQ:SNPS)

QVT Financial LP bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,886 shares of the semiconductor company's stock, valued at approximately $1,886,000. Synopsys makes up approximately 0.2% of QVT Financial LP's holdings, making the stock its 26th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Pine Valley Investments Ltd Liability Co grew its holdings in Synopsys by 44.8% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 727 shares of the semiconductor company's stock worth $368,000 after acquiring an additional 225 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at about $253,000. Wilmington Savings Fund Society FSB bought a new stake in Synopsys in the 3rd quarter valued at about $865,000. Blankinship & Foster LLC bought a new stake in Synopsys in the 3rd quarter valued at about $2,772,000. Finally, Synovus Financial Corp increased its position in Synopsys by 199.2% in the 3rd quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company's stock valued at $7,627,000 after buying an additional 10,028 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of SNPS stock traded up $16.80 during mid-day trading on Tuesday, hitting $460.77. The company had a trading volume of 1,413,964 shares, compared to its average volume of 1,091,081. The company has a market capitalization of $71.24 billion, a P/E ratio of 31.73, a P/E/G ratio of 3.23 and a beta of 1.23. The stock's 50 day moving average price is $435.52 and its 200-day moving average price is $491.27. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the business'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 sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday. Finally, Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average target price of $613.43.

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.