Atria Wealth Solutions Inc. Purchases 1,272 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Atria Wealth Solutions Inc. increased its stake in Synopsys, Inc. by 28.9% in the 1st quarter, holding 5,679 shares valued at approximately $2.43 million.
• Analysts from KeyCorp and Bank of America raised their price targets for Synopsys shares to $610 and $625 respectively, with a consensus rating of "Moderate Buy" and a target price of $622.33.
• Synopsys reported a quarterly earnings per share of $3.67, surpassing analyst expectations by $0.27, with a revenue of $1.60 billion for the quarter.

Atria Wealth Solutions Inc. increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 28.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,679 shares of the semiconductor company's stock after acquiring an additional 1,272 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Synopsys were worth $2,435,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Advisors Capital Management LLC lifted its position in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 19 shares during the last quarter. Peninsula Wealth LLC lifted its holdings in shares of Synopsys by 0.5% in the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after acquiring an additional 20 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after acquiring an additional 22 shares during the last quarter. Hardy Reed LLC lifted its holdings in shares of Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after acquiring an additional 22 shares during the last quarter. Finally, Resurgent Financial Advisors LLC lifted its holdings in shares of Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 22 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent research reports. Needham & Company LLC restated a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Mizuho lowered their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America boosted their price objective on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Piper Sandler boosted their price objective on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Rosenblatt Securities lifted their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $622.33.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the transaction, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.1%

Shares of SNPS stock traded down $0.91 during mid-day trading on Friday, reaching $619.42. 700,625 shares of the company's stock traded hands, compared to its average volume of 2,441,283. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The company has a market cap of $96.11 billion, a P/E ratio of 44.72, a P/E/G ratio of 4.10 and a beta of 1.15. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $544.48 and its 200-day moving average price is $494.35.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. On average, equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal 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.