Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) Insider Sells 5,893 Shares of 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 shares were sold at an average price of $602.00, for a total transaction of $3,547,586.00. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,403,766. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60.

Synopsys Price Performance

NASDAQ SNPS traded up $1.34 during mid-day trading on Tuesday, hitting $603.09. The stock had a trading volume of 207,182 shares, compared to its average volume of 1,089,902. The firm’s 50 day moving average is $569.90 and its 200 day moving average is $556.31. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The stock has a market capitalization of $92.41 billion, a price-to-earnings ratio of 65.50, a PEG ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data 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 firm 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 company posted $1.76 earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and issued a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Robert W. Baird upped their price objective on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $625.82.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 278,265 shares during the last quarter. Capital World Investors increased its stake in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 39.6% during the 1st 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 increased its position in shares of Synopsys by 6.3% during the 4th 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 last quarter. Finally, Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter worth about $1,272,143,000. 85.47% of the stock is owned by institutional investors and hedge funds.

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.