Sigma Planning Corp Sells 1,219 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sigma Planning Corp lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 65.3% during the 3rd quarter, Holdings Channel reports. The firm owned 649 shares of the semiconductor company’s stock after selling 1,219 shares during the period. Sigma Planning Corp’s holdings in Synopsys were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SNPS. Capital World Investors boosted its holdings in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC grew its position in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Swedbank AB increased its stake in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Synopsys by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after purchasing an additional 335,993 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 5.0 %

Shares of Synopsys stock opened at $520.75 on Friday. The company’s 50-day moving average price is $514.14 and its 200-day moving average price is $545.25. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The company has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a PEG ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. On average, sell-side analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Loop Capital started coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $649.82.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate 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.