Sigma Investment Counselors Inc. Grows Position in Synopsys, Inc. $SNPS

Key Points

• Sigma Investment Counselors Inc. increased its position in Synopsys, Inc. by 4.1%, owning 26,112 shares valued at approximately $13.4 million as of the latest SEC filing.
• Several hedge funds raised their stakes in Synopsys during the second quarter, with 85.47% of the stock now held by institutional investors.
• Recent insider trading included significant sales by CEO Sassine Ghazi and CAO Sudhindra Kankanwadi, reducing their holdings by 13.70% and 32.48%, respectively.

Sigma Investment Counselors Inc. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,112 shares of the semiconductor company's stock after acquiring an additional 1,038 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in Synopsys were worth $13,387,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hemington Wealth Management raised its position in shares of Synopsys by 10.1% in the 2nd quarter. Hemington Wealth Management now owns 197 shares of the semiconductor company's stock valued at $100,000 after purchasing an additional 18 shares during the last quarter. Concord Asset Management LLC VA raised its position in shares of Synopsys by 0.8% in the 2nd quarter. Concord Asset Management LLC VA now owns 2,379 shares of the semiconductor company's stock valued at $1,220,000 after purchasing an additional 18 shares during the last quarter. MCF Advisors LLC raised its position in shares of Synopsys by 16.2% in the 2nd quarter. MCF Advisors LLC now owns 136 shares of the semiconductor company's stock valued at $70,000 after purchasing an additional 19 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Synopsys by 14.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 158 shares of the semiconductor company's stock valued at $81,000 after purchasing an additional 20 shares during the last quarter. Finally, Trust Point Inc. raised its position in shares of Synopsys by 4.4% in the 2nd quarter. Trust Point Inc. now owns 494 shares of the semiconductor company's stock valued at $253,000 after purchasing an additional 21 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the transaction, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $500.90, for a total value of $4,945,385.70. Following the transaction, the chief accounting officer owned 20,520 shares in the company, valued at $10,278,468. This trade represents a 32.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,894 shares of company stock worth $16,760,783. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 10th. Stifel Nicolaus cut their price target on shares of Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. JPMorgan Chase & Co. cut their price target on shares of Synopsys from $685.00 to $600.00 and set an "overweight" rating on the stock in a report on Wednesday, September 10th. Zacks Research downgraded shares of Synopsys from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. Finally, Citigroup downgraded shares of Synopsys from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $569.67.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $447.64 on Friday. The stock has a market capitalization of $83.15 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 4.93 and a beta of 1.10. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The firm's 50 day simple moving average is $525.72 and its 200-day simple moving average is $510.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.51.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 9th. The semiconductor company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $3.75 by ($1.45). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.Synopsys's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 EPS. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. Analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

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.

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