Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Harvest Portfolios Group Inc.

by · The Markets Daily

Harvest Portfolios Group Inc. increased its stake in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,121 shares of the semiconductor company’s stock after acquiring an additional 1,496 shares during the period. Harvest Portfolios Group Inc.’s holdings in Synopsys were worth $21,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC grew its stake in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Synopsys in the third quarter worth about $25,000. Tsfg LLC boosted its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNPS shares. Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $643.00.

Get Our Latest Research Report on Synopsys

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 2.7 %

SNPS stock opened at $536.00 on Wednesday. The firm has a market cap of $82.33 billion, a PE ratio of 54.15, a P/E/G ratio of 3.20 and a beta of 1.08. The business’s 50-day moving average price is $504.94 and its two-hundred day moving average price is $544.22. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $2.17 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

About Synopsys

(Free Report)

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.

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