Atomi Financial Group Inc. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 53.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 632 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the period. Atomi Financial Group Inc.’s holdings in Synopsys were worth $361,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. Bay Harbor Wealth Management LLC acquired a new stake in shares of Synopsys during the first quarter worth $26,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys during the fourth quarter worth $28,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Activest Wealth Management acquired a new stake in shares of Synopsys during the first quarter worth $35,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.
Synopsys Stock Performance
Shares of NASDAQ SNPS traded up $2.89 during mid-day trading on Monday, reaching $616.94. 307,436 shares of the company traded hands, compared to its average volume of 1,060,994. The stock has a market cap of $94.53 billion, a PE ratio of 67.13, a price-to-earnings-growth ratio of 3.96 and a beta of 1.07. The company’s fifty day moving average is $586.10 and its two-hundred day moving average is $561.15. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Piper Sandler upped their price target on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $627.18.
Get Our Latest Stock Analysis on SNPS
Insider Activity at Synopsys
In related news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the sale, the director now owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total value of $3,197,590.00. Following the completion of the sale, the director now owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders sold a total of 80,870 shares of company stock worth $49,055,307 in the last 90 days. 0.66% of the stock is owned by company insiders.
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.
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