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

Harrell Investment Partners LLC purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,849 shares of the semiconductor company’s stock, valued at approximately $897,000.

A number of other large investors also recently bought and sold shares of the business. Pacifica Partners Inc. purchased a new stake in Synopsys in the third quarter worth $25,000. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter worth about $27,000. Tsfg LLC increased its stake 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 during the period. Finally, Princeton Global Asset Management LLC bought a new stake in Synopsys during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

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 value of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Trading Down 1.0 %

SNPS opened at $546.19 on Friday. The firm has a market cap of $84.43 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.57 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a fifty day moving average price of $518.68 and a 200-day moving average price of $524.17.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Wednesday, December 4th. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Finally, Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $641.82.

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.