Harvest Fund Management Co. Ltd Sells 1,100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Harvest Fund Management Co. Ltd reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,346 shares of the semiconductor company's stock after selling 1,100 shares during the quarter. Synopsys comprises 0.6% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 26th biggest position. Harvest Fund Management Co. Ltd's holdings in Synopsys were worth $13,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. GSA Capital Partners LLP bought a new stake in Synopsys in the third quarter valued at approximately $467,000. OneDigital Investment Advisors LLC raised its stake in Synopsys by 28.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,581 shares of the semiconductor company's stock worth $1,307,000 after buying an additional 575 shares during the period. Empowered Funds LLC raised its stake in Synopsys by 13.2% during the 3rd quarter. Empowered Funds LLC now owns 7,254 shares of the semiconductor company's stock worth $3,673,000 after buying an additional 844 shares during the period. Quest Partners LLC bought a new position in Synopsys during the third quarter worth about $1,788,000. Finally, Pathstone Holdings LLC increased its holdings in shares of Synopsys by 6.9% in the third quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company's stock worth $9,661,000 after acquiring an additional 1,225 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler dropped their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target for the company. Robert W. Baird cut their price objective on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Finally, Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $638.58.

Synopsys Price Performance

SNPS stock traded down $1.39 during mid-day trading on Friday, reaching $448.60. The company had a trading volume of 3,362,089 shares, compared to its average volume of 1,020,823. Synopsys, Inc. has a 52 week low of $425.73 and a 52 week high of $624.80. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.23 and a beta of 1.16. The stock has a 50 day simple moving average of $491.19 and a two-hundred day simple moving average of $506.23.

Insider Activity

In other news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred 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 completion of the transaction, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now 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 sold 47,909 shares of company stock valued at $22,794,835. 0.62% of the stock is owned by insiders.

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.