Harvey Capital Management Inc. Purchases Shares of 4,755 Synopsys, Inc. (NASDAQ:SNPS)

Harvey Capital Management Inc. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,755 shares of the semiconductor company’s stock, valued at approximately $2,308,000.

Other large investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in Synopsys in the fourth quarter valued at $27,000. Tsfg LLC increased its position in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Synopsys in the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC purchased a new position in Synopsys during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction dated 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 completion of the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Down 0.4 %

Shares of NASDAQ:SNPS opened at $529.14 on Wednesday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The company has a 50-day moving average price of $512.80 and a 200 day moving average price of $518.34. The company has a market cap of $81.79 billion, a P/E ratio of 36.44, a PEG ratio of 3.49 and a beta of 1.12.

Analysts Set New Price Targets

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