Synopsys (NASDAQ:SNPS) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Unusual Trading Activity: Synopsys shares experienced an uptick in trading volume, with 1,440,411 shares exchanged, marking a 10% decrease from the previous session.
• Analyst Rating Adjustments: Several brokerages have lowered their price targets for Synopsys, with estimates ranging from $510 to $590, while maintaining a consensus rating of "Moderate Buy."
• Insider Transactions: Notable insider sell-offs occurred, including the CRO selling 9,010 shares and the CEO selling 11,366 shares, indicating a decrease in their respective holdings.

Shares of Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) saw an uptick in trading volume on Friday . 1,440,411 shares changed hands during trading, a decline of 10% from the previous session's volume of 1,596,479 shares.The stock last traded at $430.75 and had previously closed at $438.10.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNPS. KeyCorp reduced their price objective on Synopsys from $660.00 to $590.00 and set an "overweight" rating for the company in a report on Wednesday. Robert W. Baird restated a "neutral" rating and set a $535.00 price target (down previously from $670.00) on shares of Synopsys in a research report on Wednesday. Wells Fargo & Company lowered their price target on Synopsys from $630.00 to $550.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Morgan Stanley decreased their price objective on Synopsys from $715.00 to $510.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus cut their target price on Synopsys from $650.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $585.33.

Synopsys Stock Down 2.1%

The company has a current ratio of 1.62, a quick ratio of 6.85 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $592.81 and a two-hundred day simple moving average of $506.77. The firm has a market capitalization of $66.57 billion, a P/E ratio of 33.60, a P/E/G ratio of 2.55 and a beta of 1.14.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $589.01, for a total transaction of $6,694,687.66. Following the completion of the transaction, the chief executive officer directly owned 71,615 shares of the company's stock, valued at $42,181,951.15. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,031 shares of company stock worth $13,168,999. Corporate insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Synopsys

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Synopsys by 1.6% in the second quarter. Vanguard Group Inc. now owns 15,060,784 shares of the semiconductor company's stock worth $7,721,363,000 after purchasing an additional 231,014 shares during the last quarter. State Street Corp raised its position in shares of Synopsys by 1.2% in the second quarter. State Street Corp now owns 7,266,446 shares of the semiconductor company's stock worth $3,725,362,000 after acquiring an additional 85,662 shares during the period. Geode Capital Management LLC raised its position in shares of Synopsys by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,545,892 shares of the semiconductor company's stock worth $1,810,214,000 after acquiring an additional 51,043 shares during the period. Ameriprise Financial Inc. raised its position in shares of Synopsys by 29.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,598,874 shares of the semiconductor company's stock worth $1,333,095,000 after purchasing an additional 585,494 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.