Synopsys, Inc. (NASDAQ:SNPS) Holdings Lifted by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 557,174 shares of the semiconductor company’s stock after buying an additional 64,322 shares during the period. Synopsys accounts for about 4.8% of Meridiem Investment Management Ltd.’s investment portfolio, making the stock its 11th biggest holding. Meridiem Investment Management Ltd. owned 0.36% of Synopsys worth $270,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC acquired a new stake in shares of Synopsys in the 3rd quarter worth approximately $633,469,000. Edgewood Management LLC raised its holdings in Synopsys by 18.9% during the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after purchasing an additional 487,025 shares in the last quarter. Van ECK Associates Corp lifted its position in Synopsys by 26.5% in the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Impax Asset Management Group plc boosted its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company’s stock valued at $531,056,000 after purchasing an additional 257,526 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Robert W. Baird decreased their target price on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Piper Sandler cut their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price objective on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Stock Down 1.1 %

Shares of Synopsys stock opened at $522.53 on Monday. The stock has a market cap of $80.77 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The business has a fifty day simple moving average of $510.78 and a 200-day simple moving average of $518.00.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.