Atomi Financial Group Inc. Reduces Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Atomi Financial Group Inc. lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 719 shares of the semiconductor company’s stock after selling 53 shares during the quarter. Atomi Financial Group Inc.’s holdings in Synopsys were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Secured Retirement Advisors LLC purchased a new stake in Synopsys during the 4th quarter worth about $1,642,000. Quarry LP increased its position in Synopsys by 63.1% during the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 41 shares in the last quarter. V Square Quantitative Management LLC increased its position in Synopsys by 37.5% during the 4th quarter. V Square Quantitative Management LLC now owns 2,469 shares of the semiconductor company’s stock worth $1,271,000 after purchasing an additional 673 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Synopsys by 28.2% during the 4th quarter. Raleigh Capital Management Inc. now owns 200 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 44 shares in the last quarter. Finally, Cim LLC purchased a new stake in Synopsys during the 4th quarter worth about $21,047,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $642.22.

Synopsys Price Performance

NASDAQ SNPS opened at $539.92 on Friday. The firm has a market capitalization of $82.72 billion, a P/E ratio of 58.69, a P/E/G ratio of 3.49 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The business’s 50-day simple moving average is $510.15 and its 200-day simple moving average is $550.32.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In related news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.