Meeder Advisory Services Inc. Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Meeder Advisory Services Inc. reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wisconsin Capital Management LLC increased its stake in shares of Synopsys by 1.7% during the 4th quarter. Wisconsin Capital Management LLC now owns 1,582 shares of the semiconductor company’s stock worth $768,000 after purchasing an additional 27 shares in the last quarter. Trexquant Investment LP acquired a new stake in Synopsys during the 4th quarter valued at $17,792,000. Boston Family Office LLC increased its position in Synopsys by 1.0% during the fourth quarter. Boston Family Office LLC now owns 4,405 shares of the semiconductor company’s stock worth $2,138,000 after buying an additional 42 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after acquiring an additional 75,298 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its position in shares of Synopsys by 6.3% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 97,680 shares of the semiconductor company’s stock valued at $47,419,000 after acquiring an additional 5,773 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Up 1.7 %

SNPS stock opened at $435.94 on Wednesday. Synopsys, Inc. has a 52 week low of $423.08 and a 52 week high of $624.80. The company has a market cap of $67.41 billion, a price-to-earnings ratio of 30.02, a PEG ratio of 3.23 and a beta of 1.16. The business has a fifty day simple moving average of $481.79 and a 200-day simple moving average of $504.91.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was 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. The trade was a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last three months. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNPS. Wells Fargo & Company dropped their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley decreased their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

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.