Synopsys, Inc. (NASDAQ:SNPS) CEO Sells $5,701,189.77 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Synopsys Stock Up 1.4 %

Shares of SNPS opened at $517.02 on Friday. The business has a 50-day simple moving average of $564.95 and a two-hundred day simple moving average of $565.56. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38. The stock has a market cap of $79.22 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 3.58 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $2.17 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post 9.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNPS. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. KeyCorp increased their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $630.09.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNPS. Vanguard Group Inc. raised its holdings in Synopsys by 2.1% during 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 during the period. Capital World Investors lifted its holdings in Synopsys by 12.5% in 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% in the 1st 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 during the period. Massachusetts Financial Services Co. MA boosted its stake in Synopsys by 6.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after purchasing an additional 153,053 shares during the period. Finally, Norges Bank purchased a new stake in Synopsys during the 4th quarter valued at approximately $1,272,143,000. Institutional investors own 85.47% of the company’s stock.

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.