Synopsys (NASDAQ:SNPS) CEO Sells $6,694,687.66 in Stock

Key Points

• Sassine Ghazi, CEO of Synopsys, sold 11,366 shares for a total of $6,694,687.66, reducing his ownership by 13.70%.
• Synopsys has a current market capitalization of $91.45 billion and a P/E ratio of 42.57.
• Investment analysts have a consensus recommendation of "Moderate Buy" for Synopsys, with an average price target of $638.21.

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $589.01, for a total value of $6,694,687.66. Following the completion of the transaction, the chief executive officer owned 71,615 shares in the company, valued at $42,181,951.15. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Synopsys Price Performance

Shares of SNPS traded down $2.60 during mid-day trading on Wednesday, hitting $589.42. The company's stock had a trading volume of 372,649 shares, compared to its average volume of 1,401,319. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The firm has a market capitalization of $91.45 billion, a P/E ratio of 42.57, a P/E/G ratio of 3.97 and a beta of 1.14. The firm has a 50-day simple moving average of $587.98 and a 200 day simple moving average of $504.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky lifted its holdings in shares of Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 30 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Synopsys during the fourth quarter worth about $29,000. Cornerstone Planning Group LLC increased its position in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. Saudi Central Bank bought a new stake in Synopsys in the 1st quarter worth about $26,000. Finally, Princeton Global Asset Management LLC grew its position in Synopsys by 481.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the subject of several analyst reports. Piper Sandler upped their target price on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $715.00 target price (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. The Goldman Sachs Group initiated coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Rosenblatt Securities upped their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $638.21.

About Synopsys

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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