Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $3,547,586.00 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 5,893 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $602.00, for a total value of $3,547,586.00. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,403,766. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Geus Aart De also recently made the following trade(s):

• On Thursday, June 27th, Geus Aart De sold 8,158 shares of Synopsys stock. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22.
• On Tuesday, June 25th, Geus Aart De sold 4,212 shares of Synopsys stock. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60.

Synopsys Trading Down 0.4 %

NASDAQ:SNPS opened at $606.99 on Friday. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38. The firm has a market cap of $93.00 billion, a price-to-earnings ratio of 65.98, a price-to-earnings-growth ratio of 3.93 and a beta of 1.07. The company’s 50-day moving average is $574.85 and its two-hundred day moving average is $557.39.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synopsys

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares during the last quarter. Capital World Investors grew its holdings in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD increased its position in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Synopsys by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after purchasing an additional 153,053 shares during the period. Finally, Norges Bank acquired a new position in shares of Synopsys in the 4th quarter valued at $1,272,143,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler restated an “overweight” rating and issued a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $625.82.

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.