Synopsys, Inc. (NASDAQ:SNPS) Insider Geus Aart De Sells 5,893 Shares

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 5,893 shares of Synopsys stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $602.00, for a total transaction of $3,547,586.00. Following the sale, the insider now owns 106,983 shares in the company, valued at $64,403,766. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $2,527,410.60.

Synopsys Stock Performance

NASDAQ SNPS opened at $606.99 on Friday. The firm’s 50 day moving average price is $574.85 and its two-hundred day moving average price is $557.39. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 3.93 and a beta of 1.07.

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

Institutional Trading of Synopsys

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares in the last quarter. Capital World Investors increased its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 1,514,449 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Synopsys by 6.3% during 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 purchasing an additional 153,053 shares during the last quarter. Finally, Norges Bank purchased a new position in Synopsys in the fourth quarter valued at about $1,272,143,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNPS. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $625.82.

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.