Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) Insider Sells 27,753 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 27,753 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 8th, Geus Aart De sold 5,448 shares of Synopsys stock. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60.
• On Wednesday, July 3rd, Geus Aart De sold 2,789 shares of Synopsys stock. The stock was sold at an average price of $610.94, for a total transaction of $1,703,911.66.
• On Monday, July 1st, Geus Aart De sold 5,893 shares of Synopsys stock. The stock was sold at an average price of $602.00, for a total transaction of $3,547,586.00.
• 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 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 value of $2,527,410.60.

Synopsys Stock Performance

NASDAQ SNPS opened at $619.56 on Thursday. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The firm has a market capitalization of $94.93 billion, a P/E ratio of 67.34, a PEG ratio of 3.97 and a beta of 1.07. The stock has a 50-day simple moving average of $582.85 and a two-hundred day simple moving average of $559.61.

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

Institutional Trading of Synopsys

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNPS. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Robert W. Baird upped their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Piper Sandler lifted their price objective on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average price target of $627.18.

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.