Harrell Investment Partners LLC Invests $897,000 in Synopsys, Inc. (NASDAQ:SNPS)

Harrell Investment Partners LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,849 shares of the semiconductor company’s stock, valued at approximately $897,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Pacifica Partners Inc. purchased a new stake in shares of Synopsys in the third quarter worth $25,000. Kieckhefer Group LLC bought a new position in Synopsys in the 4th quarter worth $27,000. Tsfg LLC boosted its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys during the third quarter valued at about $44,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent analyst reports. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective for the company. Mizuho began coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.82.

Synopsys Stock Down 1.0 %

Synopsys stock opened at $546.19 on Friday. The company’s 50-day moving average price is $518.68 and its 200-day moving average price is $524.17. The company has a market cap of $84.43 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Synopsys 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.