Synopsys, Inc. (NASDAQ:SNPS) CEO Sells $5,204,832.38 in Stock

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Synopsys Price Performance

Shares of SNPS stock traded up $9.01 during mid-day trading on Thursday, hitting $482.20. The company had a trading volume of 1,676,431 shares, compared to its average volume of 1,145,146. The stock's 50 day moving average price is $454.89 and its 200-day moving average price is $484.55. 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 $74.82 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Institutional Investors Weigh In On Synopsys

Several hedge funds and other institutional investors have recently made changes to their positions in SNPS. Fiera Capital Corp lifted its holdings in Synopsys by 33.8% during the 4th quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company's stock valued at $95,320,000 after buying an additional 49,653 shares in the last quarter. Bancreek Capital Management LP purchased a new position in shares of Synopsys during the fourth quarter worth approximately $3,827,000. Meridiem Investment Management Ltd. raised its stake in shares of Synopsys by 13.1% during the fourth quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company's stock valued at $270,322,000 after acquiring an additional 64,322 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Synopsys by 7.6% during the fourth quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company's stock valued at $36,300,000 after acquiring an additional 5,253 shares in the last quarter. Finally, Davidson Capital Management Inc. boosted its holdings in shares of Synopsys by 23.7% in the fourth quarter. Davidson Capital Management Inc. now owns 5,874 shares of the semiconductor company's stock valued at $2,851,000 after purchasing an additional 1,124 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. KeyCorp set a $575.00 price objective on shares of Synopsys and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Rosenblatt Securities cut their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Finally, Bank of America reduced their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and a consensus price target of $609.64.

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.