Meiji Yasuda Asset Management Co Ltd. Acquires 225 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,202 shares of the semiconductor company’s stock after buying an additional 225 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Synopsys were worth $7,378,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. increased its position in Synopsys by 7.1% during the 4th quarter. Zions Bancorporation N.A. now owns 469 shares of the semiconductor company’s stock worth $228,000 after buying an additional 31 shares during the period. Ashton Thomas Securities LLC increased its position in Synopsys by 1.2% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company’s stock worth $906,000 after acquiring an additional 23 shares during the period. Princeton Capital Management LLC raised its stake in Synopsys by 25.9% in the 4th quarter. Princeton Capital Management LLC now owns 1,075 shares of the semiconductor company’s stock worth $522,000 after purchasing an additional 221 shares in the last quarter. Napean Trading & Investment Co Singapore PTE Ltd increased its holdings in shares of Synopsys by 7.6% during the fourth quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 30,687 shares of the semiconductor company’s stock worth $14,894,000 after purchasing an additional 2,176 shares during the period. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Synopsys by 0.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 37,161 shares of the semiconductor company’s stock valued at $18,037,000 after buying an additional 192 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock valued at $22,794,835. Corporate insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $457.77 on Tuesday. Synopsys, Inc. has a 52-week low of $425.73 and a 52-week high of $624.80. The company’s 50 day moving average price is $490.60 and its 200-day moving average price is $506.31. The company has a market capitalization of $70.78 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Redburn Atlantic assumed coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Piper Sandler dropped their price objective on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $638.58.

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.