Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 28,346 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Synopsys accounts for 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 & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Kieckhefer Group LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its holdings in shares of Synopsys by 109.3% during the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 59 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNPS shares. 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. Redburn Atlantic started coverage on Synopsys in a report on Monday, January 13th. They set a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Tuesday, February 25th. Robert W. Baird cut their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, Piper Sandler dropped their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Performance

Synopsys stock opened at $447.99 on Wednesday. The firm has a market cap of $69.27 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 1 year low of $425.73 and a 1 year high of $624.80. The firm’s 50 day moving average price is $494.15 and its two-hundred day moving average price is $507.35.

Insiders Place Their Bets

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on 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 completion of the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,909 shares of company stock worth $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.