OneAscent Financial Services LLC Sells 246 Shares of Synopsys, Inc. (NASDAQ:SNPS)

OneAscent Financial Services LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 23.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800 shares of the semiconductor company’s stock after selling 246 shares during the quarter. OneAscent Financial Services LLC’s holdings in Synopsys were worth $457,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC increased its holdings in shares of Synopsys by 3.1% in the third quarter. Mutual Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $392,000 after purchasing an additional 26 shares during the period. Synovus Financial Corp raised its holdings in shares of Synopsys by 0.7% in the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after acquiring an additional 23 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its position in shares of Synopsys by 54.2% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 771 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 271 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Synopsys by 1.8% during the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after purchasing an additional 20 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,339,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sassine Ghazi sold 10,294 shares of the 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of Synopsys stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,658 shares of company stock worth $20,970,824. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNPS. Robert W. Baird lifted their target price on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Finally, KeyCorp increased their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $624.36.

Synopsys Stock Performance

SNPS traded up $0.06 on Friday, hitting $595.06. 1,019,091 shares of the company were exchanged, compared to its average volume of 868,943. The stock has a market capitalization of $91.17 billion, a PE ratio of 64.68, a price-to-earnings-growth ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The firm has a fifty day simple moving average of $569.90 and a two-hundred day simple moving average of $556.47.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the company posted $1.76 earnings per share. On average, equities analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current year.

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.