Synopsys, Inc. (NASDAQ:SNPS) CFO Sells $3,550,613.20 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares of the company’s stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Synopsys Price Performance

NASDAQ:SNPS traded up $12.26 during trading hours on Monday, hitting $498.26. 1,021,556 shares of the company were exchanged, compared to its average volume of 1,147,131. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock has a market capitalization of $77.31 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.23 and a beta of 1.11. The company’s 50 day moving average price is $456.95 and its 200-day moving average price is $483.02.

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

Institutional Trading of Synopsys

Several large investors have recently added to or reduced their stakes in SNPS. Cornerstone Planning Group LLC raised its stake in shares of Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Saudi Central Bank purchased a new stake in Synopsys in the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after buying an additional 53 shares during the period. Ameriflex Group Inc. purchased a new position in Synopsys during the 4th quarter worth approximately $29,000. Finally, Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SNPS shares. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. KeyCorp set a $540.00 price objective on shares of Synopsys in a research note on Tuesday, June 3rd. Mizuho cut their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities dropped their target price on Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average price target of $607.14.

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.