Sigma Planning Corp Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sigma Planning Corp lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,135 shares of the semiconductor company’s stock after selling 101 shares during the period. Sigma Planning Corp’s holdings in Synopsys were worth $584,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Gotham Asset Management LLC grew its holdings in shares of Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 2,227 shares during the period. abrdn plc grew its stake in shares of Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after buying an additional 30,581 shares during the last quarter. Comerica Bank purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $14,203,000. Simplicity Solutions LLC grew its stake in shares of Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth approximately $1,606,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird upped their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler started coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

NASDAQ SNPS opened at $527.52 on Thursday. The business’s fifty day moving average price is $564.47 and its 200-day moving average price is $535.56. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 EPS. Equities research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 in the last three months. Corporate insiders own 0.66% of the company’s stock.

About Synopsys

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.