Synopsys (NASDAQ:SNPS) Reaches New 52-Week Low After Insider Selling

Synopsys, Inc. (NASDAQ:SNPS) reached a new 52-week low during trading on Monday following insider selling activity. The company traded as low as $427.30 and last traded at $433.81, with a volume of 1194222 shares trading hands. The stock had previously closed at $450.88.

Specifically, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now owns 116,671 shares of the company’s stock, valued at $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Robert W. Baird decreased their price objective on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Tuesday, February 25th. Finally, Redburn Atlantic started coverage on shares of Synopsys in a research report on Monday, January 13th. They set a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $638.58.

Synopsys Stock Down 4.5 %

The firm has a fifty day moving average price of $501.21 and a 200 day moving average price of $511.66. The company has a market cap of $66.56 billion, a P/E ratio of 29.61, a PEG ratio of 3.23 and a beta of 1.16.

Institutional Investors Weigh In On Synopsys

Several hedge funds have recently bought and sold shares of the company. Advisors Capital Management LLC lifted its stake in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock valued at $408,000 after buying an additional 19 shares in the last quarter. Caprock Group LLC lifted its stake in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after acquiring an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 20 shares during the last quarter. Edge Capital Group LLC raised its holdings in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. Finally, Barden Capital Management Inc. raised its holdings in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.