Harrell Investment Partners LLC Has $223,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Harrell Investment Partners LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 71.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 520 shares of the semiconductor company's stock after selling 1,329 shares during the period. Harrell Investment Partners LLC's holdings in Synopsys were worth $223,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Synopsys in the fourth quarter worth approximately $583,608,000. GAMMA Investing LLC boosted its position in Synopsys by 54,286.0% during the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors bought a new stake in shares of Synopsys in the fourth quarter valued at approximately $239,864,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Synopsys in the fourth quarter valued at approximately $199,065,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SNPS. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. Rosenblatt Securities lowered their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Trading Down 0.4%

NASDAQ:SNPS opened at $473.62 on Thursday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The stock has a market capitalization of $73.49 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 3.14 and a beta of 1.11. The business's 50-day simple moving average is $470.10 and its 200-day simple moving average is $480.27.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business posted $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal 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.

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