Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) CRO Sells 9,010 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive now owns 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Synopsys Stock Down 0.7%

Shares of NASDAQ:SNPS traded down $3.24 during trading hours on Friday, hitting $470.38. The company's stock had a trading volume of 655,001 shares, compared to its average volume of 1,155,664. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The firm's fifty day moving average price is $471.43 and its 200 day moving average price is $479.64. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a market capitalization of $72.98 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 3.13 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. Synopsys's revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNPS. KeyCorp set a $540.00 target price on shares of Synopsys in a report on Tuesday, June 3rd. Mizuho reduced their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Bank of America dropped their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Finally, Rosenblatt Securities decreased their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and a consensus price target of $607.14.

Hedge Funds Weigh In On Synopsys

A number of large investors have recently added to or reduced their stakes in SNPS. Advisors Capital Management LLC raised its stake in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after acquiring an additional 19 shares in the last quarter. Edge Capital Group LLC increased its position in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares in the last quarter. Barden Capital Management Inc. raised its stake in 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 buying an additional 20 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the last quarter. Finally, Peninsula Wealth LLC increased its holdings in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

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.

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