Synopsys, Inc. $SNPS Shares Bought by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC increased its stake in Synopsys, Inc. by 15.1%, owning 19,068 shares valued at approximately $9.8 million after buying an additional 2,495 shares.
• A significant number of hedge funds have adjusted their holdings in Synopsys, with 85.47% of stock owned by institutional investors and hedge funds, indicating strong interest in the company.
• Wall Street analysts have downgraded Synopsys' ratings, with average target price now at $575.31, reflecting a cautious outlook for the company's future performance.

Merit Financial Group LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,068 shares of the semiconductor company's stock after buying an additional 2,495 shares during the period. Merit Financial Group LLC's holdings in Synopsys were worth $9,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky increased its position in Synopsys by 120.0% during the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock valued at $28,000 after buying an additional 30 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares in the last quarter. Saudi Central Bank acquired a new position in Synopsys during the 1st quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd increased its position in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after buying an additional 53 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Synopsys during the 1st quarter valued at about $34,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Baird R W lowered Synopsys from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. lowered their target price on Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 10th. Zacks Research downgraded Synopsys from a "hold" rating to a "strong sell" rating in a research report on Friday, September 12th. Robert W. Baird restated a "neutral" rating and issued a $535.00 target price (down previously from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $525.00 price target (down previously from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has an average rating of "Hold" and an average target price of $575.31.

Insiders Place Their Bets

In other news, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the sale, the chief financial officer owned 15,317 shares in the company, valued at approximately $9,339,847.09. The trade was a 19.27% 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, Director Robert G. Painter bought 350 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were purchased at an average price of $425.44 per share, for a total transaction of $148,904.00. Following the transaction, the director directly owned 2,291 shares of the company's stock, valued at approximately $974,683.04. This represents a 18.03% increase in their position. The disclosure for this purchase can be found here. Insiders sold 30,894 shares of company stock valued at $16,760,783 over the last quarter. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.4%

Shares of NASDAQ SNPS opened at $469.17 on Monday. The company has a market capitalization of $87.15 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51. The business has a 50-day moving average of $559.15 and a two-hundred day moving average of $510.22. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73.

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.

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