Synopsys, Inc. (NASDAQ:SNPS) CFO Sells $3,550,613.20 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Synopsys Stock Performance

SNPS opened at $504.40 on Wednesday. The stock has a market cap of $78.26 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 3.23 and a beta of 1.11. The stock’s 50 day moving average price is $459.83 and its 200-day moving average price is $482.68. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Synopsys’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent research reports. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Bank of America decreased their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities decreased their price objective on Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $607.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNPS. Norges Bank bought a new position in Synopsys in the fourth quarter worth approximately $583,608,000. GAMMA Investing LLC grew its stake in Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Nuveen LLC bought a new stake in Synopsys during the 1st quarter valued at $341,480,000. Finally, Pictet Asset Management Holding SA boosted its position in 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 valued at $1,043,518,000 after acquiring an additional 673,837 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

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.