Trexquant Investment LP Takes $17.79 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Trexquant Investment LP bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, Holdings Channel.com reports. The fund bought 36,657 shares of the semiconductor company’s stock, valued at approximately $17,792,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in Synopsys during the 4th quarter worth about $27,000. Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth approximately $33,000. Sierra Ocean LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. boosted its holdings 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 worth $44,000 after buying an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now 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 disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last quarter. Insiders own 0.62% of the company’s stock.

Synopsys Trading Up 1.7 %

Shares of NASDAQ:SNPS opened at $435.94 on Wednesday. The stock has a market cap of $67.41 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The stock’s fifty day simple moving average is $481.79 and its two-hundred day simple moving average is $504.91. Synopsys, Inc. has a 1-year low of $423.08 and a 1-year high of $624.80.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price on the stock. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research 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 has an average rating of “Moderate Buy” and an average 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.