Harvest Fund Management Co. Ltd Purchases 389 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Harvest Fund Management Co. Ltd raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,493 shares of the semiconductor company’s stock after acquiring an additional 389 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Synopsys were worth $1,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Synopsys during the 3rd quarter worth $27,000. OFI Invest Asset Management purchased a new position in Synopsys during the 3rd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Synopsys during the 3rd quarter worth $29,000. Keener Financial Planning LLC purchased a new position in Synopsys during the 4th quarter worth $56,000. Finally, Catalyst Capital Advisors LLC grew its stake in Synopsys by 34.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after buying an additional 29 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNPS. Piper Sandler began coverage on Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Finally, Robert W. Baird boosted their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus price target of $601.00.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last quarter. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Up 2.3 %

Shares of SNPS traded up $12.01 during mid-day trading on Tuesday, reaching $527.50. The company had a trading volume of 1,477,365 shares, compared to its average volume of 1,241,972. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38. The stock has a market capitalization of $80.44 billion, a P/E ratio of 58.09, a PEG ratio of 2.98 and a beta of 1.06. The stock has a 50 day moving average of $565.17 and a two-hundred day moving average of $535.62.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The company’s revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.