Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) Insider Sells 8,158 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 8,158 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, June 25th, Geus Aart De sold 4,212 shares of Synopsys stock. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60.

Synopsys Stock Up 0.0 %

Shares of NASDAQ:SNPS opened at $595.06 on Friday. The company’s fifty day moving average is $569.90 and its two-hundred day moving average is $556.39. The company has a market cap of $91.17 billion, a P/E ratio of 64.68, a price-to-earnings-growth ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bay Harbor Wealth Management LLC purchased a new stake in Synopsys in the 1st quarter worth approximately $26,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys in the fourth quarter worth $28,000. Jones Financial Companies Lllp raised its holdings in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Activest Wealth Management acquired a new stake in Synopsys during the first quarter valued at $35,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Synopsys by 40.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird boosted their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $624.36.

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.