Synopsys (NASDAQ:SNPS) CFO Sells $2,228,709.35 in Stock

Key Points

• Synopsys CFO Shelagh Glaser sold 3,655 shares of the company's stock for approximately $2.23 million, reducing their ownership by 19.27% to 15,317 shares.
• The stock price of Synopsys (NASDAQ:SNPS) was trading down 0.1% to $608.60, with a market capitalization of $94.43 billion.
• Several analysts have maintained a positive outlook on Synopsys, with target prices ranging from $615.00 to $715.00, underscoring a consensus rating of "Moderate Buy."

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CFO Shelagh Glaser sold 3,655 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $609.77, for a total value of $2,228,709.35. Following the sale, the chief financial officer owned 15,317 shares in the company, valued at approximately $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Synopsys Trading Down 0.1%

Shares of NASDAQ:SNPS traded down $0.49 during midday trading on Tuesday, hitting $608.60. 518,750 shares of the stock were exchanged, compared to its average volume of 1,399,070. The business's 50-day moving average price is $596.04 and its 200 day moving average price is $507.14. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73. The stock has a market capitalization of $94.43 billion, a price-to-earnings ratio of 43.96, a P/E/G ratio of 3.93 and a beta of 1.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Institutional Investors Weigh In On Synopsys

A number of institutional investors and hedge funds have recently bought and sold shares of SNPS. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Synopsys during the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 53 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Synopsys by 120.0% during the 2nd quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the 4th quarter valued at $29,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on SNPS shares. Wells Fargo & Company reiterated a "positive" rating on shares of Synopsys in a report on Wednesday, August 27th. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Piper Sandler upped their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $715.00 target price (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Finally, Bank of America upped their target price on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Synopsys currently 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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