Harbor Capital Advisors Inc. Has $1.40 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Harbor Capital Advisors Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 92.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,260 shares of the semiconductor company's stock after acquiring an additional 1,569 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Synopsys were worth $1,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNPS. Brighton Jones LLC boosted its stake in 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 purchasing an additional 50 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Synopsys during the fourth quarter worth about $17,162,000. Stratos Wealth Partners LTD. grew its holdings in Synopsys by 14.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 534 shares of the semiconductor company's stock worth $259,000 after acquiring an additional 66 shares during the period. Kingsview Wealth Management LLC raised its position in Synopsys by 18.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 563 shares of the semiconductor company's stock worth $273,000 after acquiring an additional 88 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Synopsys by 16.7% in the 4th quarter. Empowered Funds LLC now owns 8,468 shares of the semiconductor company's stock valued at $4,110,000 after acquiring an additional 1,214 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction on Friday, June 6th. The shares were 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 in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNPS. Bank of America dropped their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Mizuho cut 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. Morgan Stanley reduced their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Price Performance

Synopsys stock traded down $16.13 during trading hours on Friday, hitting $478.86. The company had a trading volume of 1,162,459 shares, compared to its average volume of 1,153,829. The firm's fifty day moving average is $464.37 and its 200-day moving average is $482.35. The firm has a market capitalization of $74.30 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $3.00 earnings per share. Synopsys's quarterly revenue was up 10.3% compared to the same quarter last year. Analysts anticipate 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.