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

Meeder Advisory Services Inc. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,740 shares of the semiconductor company’s stock after selling 150 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Synopsys were worth $2,301,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in Synopsys during the 3rd quarter valued at $11,441,000. Captrust Financial Advisors boosted its position in Synopsys by 8.1% in the 3rd quarter. Captrust Financial Advisors now owns 4,994 shares of the semiconductor company’s stock valued at $2,529,000 after buying an additional 374 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Synopsys by 458.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 598 shares of the semiconductor company’s stock valued at $303,000 after buying an additional 491 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of Synopsys during the third quarter valued at about $567,000. Finally, Janus Henderson Group PLC increased its position in shares of Synopsys by 7.7% during the third quarter. Janus Henderson Group PLC now owns 1,139,887 shares of the semiconductor company’s stock worth $577,289,000 after acquiring an additional 81,198 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In related 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 value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Stock Up 1.7 %

Shares of NASDAQ:SNPS opened at $435.94 on Wednesday. The company has a market cap of $67.41 billion, a PE ratio of 30.02, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $423.08 and a fifty-two week high of $624.80. The firm has a 50-day simple moving average of $481.79 and a 200 day simple moving average of $504.91.

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.