Synopsys (NASDAQ:SNPS) Sees Unusually-High Trading Volume - Still a Buy?

Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) shares saw an uptick in trading volume on Monday . 1,264,746 shares were traded during trading, an increase of 6% from the previous session's volume of 1,194,843 shares.The stock last traded at $559.42 and had previously closed at $559.28.

Wall Street Analyst Weigh In

Several research firms have weighed in on SNPS. KeyCorp upped their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. The Goldman Sachs Group assumed coverage on shares of Synopsys in a report on Thursday. They issued a "buy" rating and a $620.00 target price for the company. Rosenblatt Securities lowered their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $612.67.

Synopsys Stock Performance

The company has a market cap of $85.27 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. The company's 50-day moving average is $499.27 and its two-hundred day moving average is $479.93. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued 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. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 earnings per share. Equities analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synopsys

A number of large investors have recently modified their holdings of the company. Advisors Capital Management LLC boosted its position in shares of Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 19 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. Peninsula Wealth LLC boosted its position in shares of Synopsys by 0.5% in 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 during the period. Trust Point Inc. raised its stake in Synopsys by 4.4% in the second quarter. Trust Point Inc. now owns 494 shares of the semiconductor company's stock valued at $253,000 after purchasing an additional 21 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. raised its stake in Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

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.