Insider Selling: Synopsys CFO Unloads 17,500 Shares of Stock (SNPS)
Synopsys (NASDAQ:SNPS) CFO Brian Beattie unloaded 17,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $38.00, for a total value of $665,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,322 shares in the company. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SNPS shares. Analysts at Zacks reiterated a “neutral” rating on shares of Synopsys (NASDAQ:SNPS) in a research note to investors on Wednesday, August 28th. They now have a $38.00 price target on the stock. Analysts at Pacific Crest initiated coverage on shares of Synopsys (NASDAQ:SNPS) in a research note to investors on Tuesday, July 30th. They set an “outperform” rating on the stock.
One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $39.75.
Shares of Synopsys (NASDAQ:SNPS) traded down 0.34% on Friday, hitting $37.94. 1,396,916 shares of the company’s stock traded hands. Synopsys has a 52 week low of $31.02 and a 52 week high of $38.10. The stock’s 50-day moving average is $37.07 and its 200-day moving average is $36.09. The company has a market cap of $5.858 billion and a P/E ratio of 27.08.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $482.90 million for the quarter, compared to the consensus estimate of $481.90 million. During the same quarter last year, the company posted $0.55 earnings per share. Synopsys’s revenue was up 8.8% compared to the same quarter last year. Analysts expect that Synopsys will post $2.43 EPS for the current fiscal year.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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