Harvest Portfolios Group Inc. Purchases 1,496 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Harvest Portfolios Group Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,121 shares of the semiconductor company's stock after purchasing an additional 1,496 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Synopsys were worth $21,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNPS. Norden Group LLC raised its position in Synopsys by 24.3% in the first quarter. Norden Group LLC now owns 567 shares of the semiconductor company's stock worth $324,000 after acquiring an additional 111 shares during the period. Jennison Associates LLC raised its holdings in Synopsys by 33.2% in the 1st quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company's stock worth $5,458,000 after purchasing an additional 2,379 shares during the period. Larson Financial Group LLC lifted its position in Synopsys by 200.0% during the first quarter. Larson Financial Group LLC now owns 375 shares of the semiconductor company's stock valued at $214,000 after purchasing an additional 250 shares in the last quarter. Signaturefd LLC grew its holdings in Synopsys by 1.9% during the first quarter. Signaturefd LLC now owns 3,870 shares of the semiconductor company's stock valued at $2,212,000 after purchasing an additional 71 shares during the period. Finally, Csenge Advisory Group increased its position in Synopsys by 5.4% in the first quarter. Csenge Advisory Group now owns 1,945 shares of the semiconductor company's stock worth $1,112,000 after buying an additional 100 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNPS. Rosenblatt Securities reiterated a "buy" rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has an average rating of "Buy" and an average target price of $643.00.

Synopsys Stock Performance

NASDAQ:SNPS traded up $31.17 during trading hours on Wednesday, reaching $553.15. The stock had a trading volume of 1,312,558 shares, compared to its average volume of 1,067,853. The stock has a market capitalization of $84.97 billion, a PE ratio of 54.15, a PEG ratio of 3.20 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company has a 50 day moving average price of $504.94 and a two-hundred day moving average price of $544.22.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. Synopsys's revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

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.