Harvest Fund Management Co. Ltd Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Harvest Fund Management Co. Ltd reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,346 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Synopsys comprises about 0.6% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 26th biggest position. Harvest Fund Management Co. Ltd’s holdings in Synopsys were worth $13,575,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys in the 4th quarter worth $27,000. Whipplewood Advisors LLC purchased a new position in Synopsys in the fourth quarter valued at about $33,000. Sierra Ocean LLC purchased a new position in Synopsys in the fourth quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new position in Synopsys in the fourth quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its position in Synopsys by 109.3% in the fourth quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

NASDAQ:SNPS opened at $447.99 on Wednesday. The company has a market capitalization of $69.27 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a one year low of $425.73 and a one year high of $624.80. The stock has a 50-day simple moving average of $494.15 and a 200 day simple moving average of $507.35.

Insider Buying and Selling

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The stock was 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 directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,909 shares of company stock worth $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. Piper Sandler cut their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird cut their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Redburn Atlantic started coverage on Synopsys in a research note on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

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.