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

Sigma Planning Corp lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 65.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC purchased a new stake in Synopsys in the first quarter worth about $239,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Synopsys by 37.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 585 shares of the semiconductor company's stock worth $334,000 after purchasing an additional 159 shares during the period. M&G Plc acquired a new stake in Synopsys in the first quarter valued at approximately $1,123,000. Nicolet Advisory Services LLC acquired a new position in Synopsys during the first quarter worth about $262,000. Finally, Jacobi Capital Management LLC lifted its position in Synopsys by 45.3% during the first quarter. Jacobi Capital Management LLC now owns 577 shares of the semiconductor company's stock worth $330,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $27.56 on Friday, hitting $520.75. The stock had a trading volume of 1,025,738 shares, compared to its average volume of 846,867. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The firm's 50 day moving average price is $514.14 and its 200-day moving average price is $545.35. The company has a market capitalization of $79.99 billion, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. During the same period last year, the company earned $2.17 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a "buy" rating and a $660.00 target price for the company. Rosenblatt Securities restated a "buy" rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has an average rating of "Buy" and a consensus target price of $649.82.

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.