Merit Financial Group LLC Purchases 14,383 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Merit Financial Group LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2,308.7% in the fourth quarter, HoldingsChannel reports. The firm owned 15,006 shares of the semiconductor company’s stock after purchasing an additional 14,383 shares during the quarter. Merit Financial Group LLC’s holdings in Synopsys were worth $7,283,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. State Street Corp grew its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Synopsys by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,281,867 shares of the semiconductor company’s stock valued at $1,656,005,000 after acquiring an additional 61,799 shares during the last quarter. Edgewood Management LLC grew its position in Synopsys by 18.9% in the third quarter. Edgewood Management LLC now owns 3,069,848 shares of the semiconductor company’s stock worth $1,554,540,000 after acquiring an additional 487,025 shares in the last quarter. Van ECK Associates Corp increased its stake in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter valued at approximately $633,469,000. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $526.70 on Friday. The firm’s 50 day simple moving average is $519.43 and its 200-day simple moving average is $526.11. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $81.42 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. Wells Fargo & Company cut their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

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.