Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $3,382,935.60 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, July 5th, Geus Aart De sold 27,753 shares of Synopsys stock. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74.
• 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 transaction 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 transaction 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 stock was sold at an average price of $600.05, for a total value of $2,527,410.60.

Synopsys Price Performance

Synopsys stock opened at $608.74 on Friday. The firm has a market capitalization of $93.27 billion, a P/E ratio of 66.17, a PEG ratio of 3.97 and a beta of 1.07. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The business has a fifty day moving average price of $584.56 and a 200-day moving average price of $559.95.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 EPS. Sell-side analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNPS. Bay Harbor Wealth Management LLC purchased a new position in Synopsys during the first quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its holdings in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Activest Wealth Management bought a new position in shares of Synopsys in the first quarter worth approximately $35,000. Finally, Fortitude Family Office LLC raised its stake in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SNPS. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler upped their price objective on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, 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.