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

Atomi Financial Group Inc. has made a notable adjustment to its investment portfolio by decreasing its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.9% during the third quarter. This information is detailed in the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this reduction, Atomi Financial Group now owns a total of 719 shares of the semiconductor company's stock, having sold 53 shares during the quarter. By the end of this period, Atomi's investment in Synopsys was valued at approximately $364,000.

In addition to Atomi Financial Group's changes, other hedge funds have also made significant adjustments to their positions in Synopsys. For instance, Secured Retirement Advisors LLC took the opportunity to purchase a new stake in Synopsys during the fourth quarter, reportedly worth around $1,642,000. Similarly, Quarry LP increased its investment in the company by 63.1% over the same period, bringing its total holdings to 106 shares valued at $55,000 after acquiring an additional 41 shares. V Square Quantitative Management LLC also raised its position by 37.5%, now holding 2,469 shares worth about $1,271,000, after buying 673 shares. Furthermore, Raleigh Capital Management Inc. expanded its investment by 28.2%, now owning 200 shares valued at $103,000 after purchasing an additional 44 shares. Notably, Cim LLC entered the fray by acquiring a new stake in Synopsys valued at approximately $21,047,000. Collectively, these institutional investors control 85.47% of Synopsys's outstanding shares.

Recent Analyst Recommendations

Meanwhile, several research firms have recently provided updates regarding their outlook on Synopsys. In a report on August 23rd, Rosenblatt Securities reaffirmed a “buy” rating and established a price target of $635.00 for the stock. Likewise, Needham & Company LLC also maintained a “buy” rating, setting a price target of $640.00. On the other hand, JPMorgan Chase & Co. adjusted its forecast by increasing the price target from $655.00 to $685.00 while assigning an “overweight” rating to the stock. In another report, Robert W. Baird raised their target price from $661.00 to $663.00, designating the stock as “outperform.” KeyCorp similarly increased its price target from $675.00 to $690.00, maintaining an “overweight” rating. Currently, ten analysts have given the stock a buy rating, and on average, it holds a “Buy” rating with a price target of $642.22, according to MarketBeat data.

Synopsys Stock Performance

The stock of Synopsys (NASDAQ:SNPS) opened at $539.92 on the most recent trading day, with the firm holding a market capitalization of $82.72 billion. Synopsys's price-to-earnings (P/E) ratio stands at 58.69, and the price-to-earnings growth (P/E/G) ratio is recorded at 3.49, along with a beta of 1.08. Over the past year, Synopsys’s stock has reached a low of $448.91 and a high of $629.38. The company's 50-day simple moving average is $510.15, while the 200-day moving average is $550.32.

Most recently, Synopsys released its quarterly earnings data on August 21st. The semiconductor company reported earnings per share (EPS) of $3.43, surpassing analysts' expectations of $3.28 by $0.15. During this quarter, the business generated total revenue of $1.53 billion, slightly exceeding the anticipated $1.52 billion. Synopsys experienced a return on equity of 22.09% and a net margin of 24.06%. Comparatively, the company's revenue for this quarter increased by 12.7% from the same quarter a year earlier, when it reported an EPS of $2.17. Analysts currently forecast that Synopsys, Inc. will achieve an EPS of 9.45 for the ongoing fiscal year.

Insider Trading Activities

In related news, insider Geus Aart De engaged in stock transactions, selling 493 shares of the company on July 15th at an average price of $620.60. The total transaction was valued at $305,955.80. Following this sale, Geus Aart De now owns 106,983 shares, worth approximately $66,393,649.80. This transaction reflected a minimal 0.00% change in their overall position. Further disclosing activity, CEO Sassine Ghazi sold 10,293 shares on August 23rd, at an average selling price of $553.89, totaling $5,701,189.77. Post-transaction, the CEO holds 62,568 shares, valued at $34,655,789.52. This also represented a slight 0.00% decrease in ownership. Corporate insiders currently own 0.66% of the company’s stock.

About Synopsys, Inc.

Synopsys, Inc. specializes in providing electronic design automation software tools that assist in the design and testing of integrated circuits. The company operates across three main segments: Design Automation, Design IP, and Software Integrity. These segments encompass a variety of solutions, including digital design implementation and verification processes, as well as unique FPGA-based prototyping and debug solutions.

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