Meeder Asset Management Inc. Sells 36 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meeder Asset Management Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 31.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78 shares of the semiconductor company’s stock after selling 36 shares during the period. Meeder Asset Management Inc.’s holdings in Synopsys were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Peloton Wealth Strategists lifted its stake in shares of Synopsys by 221.2% during the 3rd quarter. Peloton Wealth Strategists now owns 2,881 shares of the semiconductor company’s stock worth $1,459,000 after buying an additional 1,984 shares during the last quarter. Nordea Investment Management AB raised its holdings in Synopsys by 15.9% in the 4th quarter. Nordea Investment Management AB now owns 1,043,995 shares of the semiconductor company’s stock valued at $509,261,000 after acquiring an additional 143,284 shares during the period. James Hambro & Partners LLP lifted its position in Synopsys by 30.9% during the fourth quarter. James Hambro & Partners LLP now owns 201,460 shares of the semiconductor company’s stock worth $97,725,000 after acquiring an additional 47,527 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Synopsys by 53.2% during the third quarter. Orion Portfolio Solutions LLC now owns 26,272 shares of the semiconductor company’s stock worth $13,304,000 after acquiring an additional 9,124 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Synopsys by 199.2% in the third quarter. Synovus Financial Corp now owns 15,062 shares of the semiconductor company’s stock valued at $7,627,000 after purchasing an additional 10,028 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Piper Sandler cut their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird lowered their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

Shares of Synopsys stock opened at $435.94 on Wednesday. The company’s 50 day moving average price is $481.79 and its two-hundred day moving average price is $504.91. The firm has a market capitalization of $67.41 billion, a P/E 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.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at $738,774.60. The trade was a 93.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

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.