Sigma Investment Counselors Inc. Sells 270 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sigma Investment Counselors Inc. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,181 shares of the semiconductor company’s stock after selling 270 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Synopsys were worth $13,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNPS. Sunbelt Securities Inc. raised its position in shares of Synopsys by 552.6% during the 1st quarter. Sunbelt Securities Inc. now owns 124 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 105 shares during the last quarter. Brookstone Capital Management bought a new stake in Synopsys in the first quarter valued at about $400,000. Wealth Enhancement Advisory Services LLC lifted its stake in Synopsys by 54.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,867 shares of the semiconductor company’s stock valued at $15,926,000 after buying an additional 9,878 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Synopsys by 38.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,166 shares of the semiconductor company’s stock worth $1,238,000 after buying an additional 607 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its position in shares of Synopsys by 12.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 8,950 shares of the semiconductor company’s stock worth $5,115,000 after buying an additional 1,000 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ:SNPS opened at $501.58 on Friday. The stock has a 50-day simple moving average of $509.38 and a 200 day simple moving average of $545.88. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The company has a market cap of $77.05 billion, a PE ratio of 52.03, a PEG ratio of 3.44 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion during 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 quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $2.17 EPS. On average, research analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNPS. Mizuho started coverage on shares of Synopsys in a research report on Tuesday. They issued an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus price target of $643.00.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

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.