Atria Wealth Solutions Inc. Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Atria Wealth Solutions Inc. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,788 shares of the semiconductor company’s stock after selling 61 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Synopsys were worth $2,465,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC lifted its position in shares of Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the last quarter. abrdn plc lifted its position in shares of Synopsys by 56.9% during the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after buying an additional 30,581 shares during the last quarter. Comerica Bank purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $14,203,000. Simplicity Solutions LLC lifted its position in shares of Synopsys by 55.5% during the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $1,606,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average price target of $601.00.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of Synopsys stock opened at $543.66 on Monday. Synopsys, Inc. has a one year low of $362.06 and a one year high of $629.38. The company has a market cap of $82.91 billion, a P/E ratio of 59.87, a PEG ratio of 3.18 and a beta of 1.06. The firm has a fifty day moving average of $563.73 and a two-hundred day moving average of $536.58.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company posted $1.75 EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current year.

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.