Sigma Investment Counselors Inc. Sells 648 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sigma Investment Counselors Inc. reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,533 shares of the semiconductor company’s stock after selling 648 shares during the period. Sigma Investment Counselors Inc.’s holdings in Synopsys were worth $12,878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SNPS. MONECO Advisors LLC bought a new position in Synopsys in the fourth quarter valued at about $216,000. Howard Capital Management Inc. raised its position in Synopsys by 2.8% in the fourth quarter. Howard Capital Management Inc. now owns 4,078 shares of the semiconductor company’s stock valued at $1,979,000 after purchasing an additional 113 shares during the last quarter. Wealthspire Advisors LLC raised its position in Synopsys by 41.6% in the fourth quarter. Wealthspire Advisors LLC now owns 562 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 165 shares during the last quarter. Transcend Capital Advisors LLC raised its position in Synopsys by 7.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 1,798 shares of the semiconductor company’s stock valued at $873,000 after purchasing an additional 124 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its position in Synopsys by 452.7% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 14,491 shares of the semiconductor company’s stock valued at $7,033,000 after purchasing an additional 11,869 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, December 5th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Wednesday, December 4th. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target for the company. Piper Sandler decreased their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, Robert W. Baird decreased their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $641.82.

Synopsys Price Performance

NASDAQ SNPS opened at $474.84 on Friday. The business has a 50 day simple moving average of $510.21 and a 200 day simple moving average of $517.48. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market capitalization of $73.40 billion, a P/E ratio of 32.70, a P/E/G ratio of 3.23 and a beta of 1.12.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total value of $10,544,236.38. Following the transaction, the executive now owns 1,460 shares in the company, valued at approximately $738,774.60. This represents a 93.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Synopsys Company 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.