Meeder Asset Management Inc. Has $38,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Meeder Asset Management Inc. lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 31.6% during the fourth quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SNPS. Redburn Atlantic initiated coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Robert W. Baird reduced their price target 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. Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. 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. Finally, Piper Sandler dropped their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Synopsys Price Performance

SNPS opened at $435.94 on Wednesday. Synopsys, Inc. has a 1 year low of $423.08 and a 1 year high of $624.80. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 3.23 and a beta of 1.16. The firm’s fifty day moving average price is $481.79 and its two-hundred day moving average price is $504.91.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction 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 owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,909 shares of company stock worth $22,794,835. 0.62% of the stock is owned by insiders.

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.