Meridiem Investment Management Ltd. Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Meridiem Investment Management Ltd. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 557,174 shares of the semiconductor company's stock after purchasing an additional 64,322 shares during the quarter. Synopsys comprises about 4.8% of Meridiem Investment Management Ltd.'s investment portfolio, making the stock its 11th largest position. Meridiem Investment Management Ltd. owned about 0.36% of Synopsys worth $270,322,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SNPS. Kieckhefer Group LLC purchased a new stake in Synopsys during the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. increased its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Synopsys during the third quarter valued at $44,000. nVerses Capital LLC bought a new position in Synopsys during the third quarter valued at $51,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Synopsys during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNPS. Piper Sandler cut 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. 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. Needham & Company LLC restated a "buy" rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic began coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of Synopsys from $570.00 to $540.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $641.82.

Insider Buying and Selling

In other Synopsys 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 transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares of the company's stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Synopsys Stock Down 1.4 %

NASDAQ:SNPS traded down $7.01 during mid-day trading on Thursday, reaching $493.97. The company's stock had a trading volume of 1,270,893 shares, compared to its average volume of 1,057,544. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a fifty day moving average of $511.23 and a 200-day moving average of $517.61. The firm has a market capitalization of $76.36 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

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.