Meridiem Investment Management Ltd. Acquires 8,018 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meridiem Investment Management Ltd. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 492,852 shares of the semiconductor company’s stock after acquiring an additional 8,018 shares during the period. Synopsys accounts for about 4.4% of Meridiem Investment Management Ltd.’s portfolio, making the stock its 12th biggest position. Meridiem Investment Management Ltd.’s holdings in Synopsys were worth $249,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC lifted its stake in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the 3rd quarter worth $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc bought a new position in Synopsys in the second quarter valued at about $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.5 %

NASDAQ SNPS traded up $2.34 during mid-day trading on Friday, hitting $507.03. The company’s stock had a trading volume of 862,658 shares, compared to its average volume of 1,080,499. The company’s 50 day simple moving average is $512.02 and its 200 day simple moving average is $547.92. The firm has a market capitalization of $77.88 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler restated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $644.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.