Atria Wealth Solutions Inc. Sells 523 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Atria Wealth Solutions Inc. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,971 shares of the semiconductor company’s stock after selling 523 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Synopsys were worth $3,553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SNPS. Kingsview Wealth Management LLC purchased a new stake in Synopsys during the first quarter worth $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys in the first quarter worth about $218,000. Bridgefront Capital LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at about $951,000. Vanguard Group Inc. grew its position in shares of Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after buying an additional 203,601 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in shares of Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after acquiring an additional 1,249 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 493 shares of the firm’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 completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. Insiders sold a total of 81,363 shares of company stock worth $49,361,263 in the last 90 days. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.4 %

Shares of NASDAQ:SNPS traded up $7.65 during trading on Wednesday, reaching $564.68. 865,800 shares of the company’s stock traded hands, compared to its average volume of 1,063,547. The firm has a market cap of $86.52 billion, a PE ratio of 61.38, a P/E/G ratio of 3.58 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $433.82 and a fifty-two week high of $629.38. The company has a 50-day simple moving average of $572.65 and a 200-day simple moving average of $566.66.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that Synopsys, Inc. will post 9.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities upped their price target on Synopsys from $615.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. KeyCorp boosted 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. Robert W. Baird increased their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Piper Sandler upped their price target on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $629.00.

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.