Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $4,915,929.22 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $2,527,410.60.

Synopsys Stock Up 0.0 %

Shares of SNPS opened at $595.06 on Monday. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The company has a market cap of $91.18 billion, a P/E ratio of 64.68, a PEG ratio of 3.84 and a beta of 1.08. The firm’s 50 day moving average price is $569.90 and its 200 day moving average price is $556.31.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird upped their price objective on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average price target of $624.36.

Hedge Funds Weigh In On Synopsys

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Synopsys by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after acquiring an additional 278,265 shares in the last quarter. Capital World Investors lifted its position in shares of Synopsys by 12.5% during the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 39.6% during the first 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 during the last quarter. Finally, Norges Bank acquired a new stake in Synopsys in the fourth quarter valued at $1,272,143,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.