Sigma Investment Counselors Inc. Has $12.88 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Sigma Investment Counselors Inc. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,533 shares of the semiconductor company’s stock after selling 648 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Synopsys were worth $12,878,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kieckhefer Group LLC acquired a new position in shares of Synopsys during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Synopsys during the 4th quarter worth approximately $39,000. Princeton Global Asset Management LLC acquired a new position in shares of Synopsys during the 3rd quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Synopsys during the 4th quarter worth approximately $51,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ:SNPS opened at $474.84 on Friday. The stock has a fifty day moving average price of $510.21 and a 200-day moving average price of $517.48. The company has a market cap of $73.40 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Insider Activity

In related news, CRO Richard S. Mahoney sold 20,838 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at $738,774.60. This represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNPS. Loop Capital began coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Piper Sandler decreased their price objective on Synopsys from $670.00 to $655.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, December 5th. Redburn Atlantic initiated coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $641.82.

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.