Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Gotham Asset Management LLC lifted its position in Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares during the period. abrdn plc lifted its position in Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the period. Comerica Bank acquired a new position in Synopsys during the third quarter valued at $14,203,000. Simplicity Solutions LLC lifted its position in Synopsys by 55.5% during the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 1,539 shares during the period. Finally, Moody Lynn & Lieberson LLC acquired a new position in Synopsys during the third quarter valued at $1,606,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 0.0 %

Shares of NASDAQ SNPS opened at $527.52 on Thursday. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The stock has a market cap of $80.45 billion, a PE ratio of 58.10, a P/E/G ratio of 3.08 and a beta of 1.06. The company has a 50-day moving average of $564.47 and a 200 day moving average of $535.56.

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

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the purchase, the director now owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Piper Sandler started coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $601.00.

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.