Shelagh Glaser Sells 7,310 Shares of Synopsys, Inc. (NASDAQ:SNPS) Stock

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Synopsys Trading Up 2.0%

SNPS traded up $9.77 on Monday, hitting $495.77. 1,612,035 shares of the company's stock were exchanged, compared to its average volume of 1,149,346. The firm has a market cap of $76.92 billion, a PE ratio of 34.14, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The stock has a fifty day moving average of $456.95 and a two-hundred day moving average of $483.02.

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

Institutional Investors Weigh In On Synopsys

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank raised its stake in Synopsys by 1.9% during the first quarter. First Hawaiian Bank now owns 9,871 shares of the semiconductor company's stock worth $4,233,000 after acquiring an additional 185 shares during the period. Anderson Financial Strategies LLC bought a new position in Synopsys in the 1st quarter worth about $232,000. Strs Ohio bought a new position in Synopsys in the 1st quarter worth about $37,609,000. Mattson Financial Services LLC bought a new position in Synopsys in the 1st quarter worth about $1,410,000. Finally, MBL Wealth LLC bought a new position in Synopsys in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America cut their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. KeyCorp set a $540.00 price objective on shares of Synopsys in a report on Tuesday, June 3rd. Mizuho cut their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $607.14.

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.