Meridiem Investment Management Ltd. Buys 8,018 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meridiem Investment Management Ltd. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,852 shares of the semiconductor company’s stock after acquiring an additional 8,018 shares during the quarter. Synopsys accounts for 4.4% of Meridiem Investment Management Ltd.’s portfolio, making the stock its 12th largest position. Meridiem Investment Management Ltd. owned about 0.32% of Synopsys worth $249,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andina Capital Management LLC increased its holdings in Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares in the last quarter. Cascade Financial Partners LLC raised its position in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the last quarter. Ignite Planners LLC increased its position in Synopsys by 3.5% in the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Finally, Monument Capital Management increased its position in Synopsys by 1.1% in the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday. They issued a “buy” rating and a $660.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $644.00.

Synopsys Trading Up 0.5 %

Shares of SNPS stock traded up $2.34 on Friday, hitting $507.03. 862,658 shares of the stock were exchanged, compared to its average volume of 1,080,499. The business has a 50-day moving average of $512.02 and a 200 day moving average of $547.92. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38. The firm has a market capitalization of $77.88 billion, a P/E ratio of 52.60, a price-to-earnings-growth ratio of 3.73 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $2.17 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.