Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $17,167,450.74 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value 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 value 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 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 transaction of $2,527,410.60.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $608.74 on Friday. The company’s 50 day moving average price is $584.56 and its 200-day moving average price is $559.95. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The company has a market capitalization of $93.27 billion, a P/E ratio of 66.17, a price-to-earnings-growth ratio of 3.97 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 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.76 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Institutional Investors Weigh In On Synopsys

Hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares during the period. Mission Wealth Management LP increased its stake in Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC boosted its position in shares of Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares in the last quarter. Finally, Monument Capital Management grew its stake in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird raised their price objective on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. KeyCorp lifted their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.