Synopsys CEO Sells $116,070 in Stock (SNPS)
Synopsys (NASDAQ:SNPS) CEO Chi-Foon Chan sold 3,000 shares of Synopsys stock on the open market in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $38.69, for a total transaction of $116,070.00. Following the completion of the transaction, the chief executive officer now directly owns 193,899 shares of the company’s stock, valued at approximately $7,501,952. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Synopsys (NASDAQ:SNPS) traded down 0.51% on Wednesday, hitting $39.06. The stock had a trading volume of 295,337 shares. Synopsys has a 52 week low of $34.55 and a 52 week high of $41.62. The stock’s 50-day moving average is $37.66 and its 200-day moving average is $38.82. The company has a market cap of $6.043 billion and a price-to-earnings ratio of 25.81.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.05. The company had revenue of $517.70 million for the quarter, compared to the consensus estimate of $512.15 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Synopsys will post $2.48 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SNPS shares. Analysts at Zacks reiterated a “neutral” rating on shares of Synopsys in a research note on Friday, May 23rd. They now have a $41.00 price target on the stock. Separately, analysts at DA Davidson cut their price target on shares of Synopsys from $47.00 to $46.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. Finally, analysts at Summit Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. They now have a $47.00 price target on the stock, up previously from $44.00. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $45.50.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.