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

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 5,893 shares of Synopsys stock in a transaction on 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 legal filing with the SEC, which is accessible 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 shares were 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 shares were sold at an average price of $600.05, for a total value of $2,527,410.60.

Synopsys Price Performance

Synopsys stock opened at $609.66 on Wednesday. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The company’s 50-day moving average is $571.62 and its 200 day moving average is $556.66. The firm has a market capitalization of $93.41 billion, a P/E ratio of 66.27, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last issued 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 return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler reiterated an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $625.82.

Institutional Trading of Synopsys

A number of large investors have recently made changes to their positions in SNPS. Truist Financial Corp grew its stake in Synopsys by 119.2% in the 3rd quarter. Truist Financial Corp now owns 27,626 shares of the semiconductor company’s stock worth $12,680,000 after acquiring an additional 15,024 shares in the last quarter. Advisors Asset Management Inc. raised its position in Synopsys by 18.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,787 shares of the semiconductor company’s stock valued at $3,115,000 after purchasing an additional 1,072 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Synopsys in the 3rd quarter worth $1,201,000. Evergreen Capital Management LLC grew its position in shares of Synopsys by 4.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,318 shares of the semiconductor company’s stock worth $605,000 after buying an additional 53 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in shares of Synopsys by 24.1% during the third quarter. Lido Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $835,000 after buying an additional 353 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

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.