Harmony Asset Management LLC Has $1.69 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Harmony Asset Management LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 356.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,945 shares of the semiconductor company's stock after purchasing an additional 3,080 shares during the period. Harmony Asset Management LLC's holdings in Synopsys were worth $1,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SNPS. Brighton Jones LLC raised its position in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Synopsys by 47.7% during the 4th quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock valued at $386,000 after acquiring an additional 257 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Synopsys by 21.8% during the 4th quarter. Independent Advisor Alliance now owns 4,547 shares of the semiconductor company's stock valued at $2,207,000 after acquiring an additional 813 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Synopsys by 15.6% during the 4th quarter. HighTower Advisors LLC now owns 10,754 shares of the semiconductor company's stock valued at $5,220,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Synopsys by 20.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,239 shares of the semiconductor company's stock valued at $3,514,000 after acquiring an additional 1,223 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SNPS. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp increased their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $612.67.

Synopsys Price Performance

SNPS stock traded down $6.91 during trading hours on Friday, hitting $559.28. 1,358,473 shares of the stock traded hands, compared to its average volume of 1,190,902. The stock has a 50-day simple moving average of $499.27 and a 200 day simple moving average of $480.18. The company has a market cap of $86.78 billion, a P/E ratio of 40.38, a P/E/G ratio of 3.74 and a beta of 1.12. Synopsys, Inc. has a one year low of $365.74 and a one year high of $621.24. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company earned $3.00 EPS. Synopsys's revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post 10.64 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.