Meeder Advisory Services Inc. Grows Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Meeder Advisory Services Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,094 shares of the semiconductor company’s stock after purchasing an additional 87 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Synopsys were worth $1,768,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Modera Wealth Management LLC grew its stake in Synopsys by 12.2% in the 3rd quarter. Modera Wealth Management LLC now owns 985 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 107 shares in the last quarter. American Century Companies Inc. increased its holdings in Synopsys by 9.2% during the 3rd quarter. American Century Companies Inc. now owns 120,329 shares of the semiconductor company’s stock worth $55,227,000 after purchasing an additional 10,137 shares during the period. Wellington Management Group LLP raised its position in Synopsys by 228.8% during the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after purchasing an additional 269,130 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Synopsys by 31.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock worth $734,000 after buying an additional 386 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Synopsys by 52.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company’s stock worth $71,000 after buying an additional 54 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNPS. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus target price of $627.18.

Synopsys Stock Performance

NASDAQ:SNPS traded up $1.96 during mid-day trading on Monday, hitting $616.01. 494,184 shares of the company’s stock traded hands, compared to its average volume of 1,062,388. The company has a fifty day moving average of $587.51 and a 200 day moving average of $561.85. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The company has a market capitalization of $94.39 billion, a P/E ratio of 66.96, a P/E/G ratio of 3.96 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $1.76 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. On average, research analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,870 shares of company stock valued at $49,055,307. 0.66% of the stock is owned by insiders.

About Synopsys

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.