Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 492,852 shares of the semiconductor company's stock after buying an additional 8,018 shares during the period. Synopsys comprises 4.4% of Meridiem Investment Management Ltd.'s investment portfolio, making the stock its 12th biggest holding. Meridiem Investment Management Ltd. owned approximately 0.32% of Synopsys worth $249,677,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys during the 1st quarter worth approximately $239,000. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys in the first quarter valued at $218,000. Jacobs & Co. CA acquired a new position in shares of Synopsys during the 3rd quarter worth $10,554,000. Vontobel Holding Ltd. boosted its position in shares of Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company's stock worth $488,796,000 after buying an additional 43,228 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company's stock valued at $2,303,000 after acquiring an additional 1,249 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on SNPS. Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Piper Sandler reiterated an "overweight" rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on Synopsys from $655.00 to $685.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday. They set a "buy" rating and a $660.00 price objective on the stock. Finally, KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an "overweight" rating in a research note on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of "Buy" and an average target price of $644.00.

Synopsys Price Performance

SNPS stock traded up $2.34 during trading on Friday, reaching $507.03. 862,658 shares of the stock traded hands, compared to its average volume of 1,080,499. The firm has a market capitalization of $77.69 billion, a PE ratio of 55.11, a P/E/G ratio of 3.73 and a beta of 1.08. The business's 50 day moving average price is $512.02 and its 200-day moving average price is $547.92. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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.