Geus Aart De Sells 5,893 Shares of Synopsys, Inc. (NASDAQ:SNPS) Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 5,893 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now 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 can be accessed through this hyperlink.

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 value of $4,915,929.22.
• 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 Performance

NASDAQ:SNPS opened at $606.99 on Thursday. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The stock has a market cap of $93.00 billion, a PE ratio of 65.98, a P/E/G ratio of 3.84 and a beta of 1.07. The stock has a 50 day moving average price of $573.27 and a 200 day moving average price of $557.04.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS 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 company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.76 EPS. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synopsys

Several hedge funds and other institutional investors have recently made changes to their positions in SNPS. Bay Harbor Wealth Management LLC acquired a new stake in Synopsys during the first quarter worth $26,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Synopsys during the fourth quarter worth $28,000. Jones Financial Companies Lllp increased its stake in 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 during the last quarter. Activest Wealth Management acquired a new stake in Synopsys during the first quarter worth $35,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have 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. KeyCorp increased their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird increased their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $625.82.

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.