Atria Investments Inc Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

Atria Investments Inc reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,892 shares of the semiconductor company’s stock after selling 2,129 shares during the period. Atria Investments Inc’s holdings in Synopsys were worth $4,316,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Caprock Group LLC grew its position in Synopsys by 0.5% during the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA grew its position in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 20 shares during the last quarter. Edge Capital Group LLC grew its position in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock worth $791,000 after purchasing an additional 20 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Synopsys by 1.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock worth $733,000 after purchasing an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC grew its position in Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on SNPS shares. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Loop Capital started coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Trading Up 1.2 %

Shares of SNPS opened at $450.88 on Friday. The stock has a market cap of $69.72 billion, a P/E ratio of 31.05, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12-month low of $429.77 and a 12-month high of $624.80. The company has a 50-day moving average of $501.21 and a two-hundred day moving average of $512.34.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the transaction, the executive now directly owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

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.