Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) CEO Sells 11,366 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Synopsys Price Performance

NASDAQ:SNPS opened at $466.26 on Wednesday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company has a market cap of $72.35 billion, a PE ratio of 32.11, a PEG ratio of 3.23 and a beta of 1.16. The firm has a 50-day moving average of $454.18 and a 200-day moving average of $484.63.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. On average, equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synopsys

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. bought a new stake in Synopsys during the 4th quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. Saudi Central Bank purchased a new position in Synopsys during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 53 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Synopsys in the fourth quarter worth $33,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNPS. Mizuho dropped their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. KeyCorp set a $575.00 price objective on Synopsys and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Piper Sandler reiterated an “overweight” rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Bank of America lowered their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $609.64.

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.