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

Merit Financial Group LLC increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2,308.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Green Alpha Advisors LLC boosted its stake in shares of Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after buying an additional 22 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Synopsys by 1.5% in the third quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after acquiring an additional 22 shares during the period. Resurgent Financial Advisors LLC increased its position in Synopsys by 2.8% during the third quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock valued at $410,000 after acquiring an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Synopsys by 6.1% in the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock valued at $202,000 after acquiring an additional 23 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, December 5th. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Up 2.1 %

NASDAQ SNPS opened at $526.70 on Friday. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The business has a 50-day moving average price of $519.43 and a 200-day moving average price of $526.11. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 3.22 and a beta of 1.12.

Insider Buying and Selling

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

Synopsys 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.