Sigma Investment Counselors Inc. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 47,691 shares of the semiconductor company’s stock after selling 972 shares during the period. Sigma Investment Counselors Inc.’s holdings in Synopsys were worth $4,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Cerebellum GP LLC bought a new stake in Synopsys in the fourth quarter worth about $124,000. Advisor Group Inc. raised its position in Synopsys by 14.3% in the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 327 shares during the period. IBM Retirement Fund bought a new stake in Synopsys in the fourth quarter worth about $201,000. Conning Inc. bought a new stake in Synopsys in the fourth quarter worth about $205,000. Finally, Checchi Capital Advisers LLC bought a new stake in Synopsys in the fourth quarter worth about $205,000. 89.77% of the stock is currently owned by institutional investors.

SNPS has been the topic of several research reports. Royal Bank of Canada raised shares of Synopsys from an “outperform” rating to a “top pick” rating and lifted their price objective for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. DA Davidson reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Needham & Company LLC lifted their price objective on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. KeyCorp reaffirmed an “overweight” rating and issued a $106.00 price objective (up previously from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. Finally, TheStreet lowered shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $96.89.

Synopsys, Inc. (NASDAQ:SNPS) opened at $85.33 on Tuesday. The firm has a market cap of $12,542.51, a PE ratio of 100.39, a PEG ratio of 3.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04. Synopsys, Inc. has a 12 month low of $65.31 and a 12 month high of $94.80.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.12. The firm had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. equities research analysts expect that Synopsys, Inc. will post 2.24 EPS for the current fiscal year.

In other news, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $90.33, for a total value of $451,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $336,675.00. The disclosure for this sale can be found here. Insiders sold 65,442 shares of company stock valued at $5,779,693 in the last quarter. Corporate insiders own 1.82% of the company’s stock.

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About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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