Harmony Asset Management LLC Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Harmony Asset Management LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 865 shares of the semiconductor company's stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. Advisors Capital Management LLC increased its holdings in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares during the last quarter. Caprock Group LLC increased its stake in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 20 shares during the last quarter. Edge Capital Group LLC increased its stake in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. Finally, Barden Capital Management Inc. increased its stake in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. KeyCorp set a $575.00 price target on Synopsys and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $614.86.

Synopsys Price Performance

SNPS traded up $12.07 on Tuesday, hitting $510.92. The company had a trading volume of 239,404 shares, compared to its average volume of 1,101,907. The company's fifty day moving average price is $451.94 and its 200 day moving average price is $487.43. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market cap of $79.00 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Synopsys Company 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.