Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 54.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291 shares of the semiconductor company’s stock after selling 349 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Synopsys were worth $151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cibc World Market Inc. boosted its holdings in shares of Synopsys by 58.8% in the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after acquiring an additional 4,402 shares in the last quarter. Prudential PLC purchased a new stake in shares of Synopsys in the first quarter valued at about $993,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Synopsys in the first quarter valued at about $240,000. Covestor Ltd boosted its holdings in shares of Synopsys by 18.9% in the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 43 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Synopsys by 64.4% in the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 658 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ:SNPS opened at $543.91 on Tuesday. The firm has a 50 day simple moving average of $569.53 and a 200-day simple moving average of $532.98. The firm has a market cap of $82.95 billion, a PE ratio of 59.90, a P/E/G ratio of 3.25 and a beta of 1.06. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 earnings per share. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares in the company, valued at $15,638,181. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 over the last 90 days. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler initiated coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $601.00.

Synopsys Company 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.