Insider Selling: Synopsys CEO Sells 18,000 Shares of Stock (SNPS)
Synopsys (NASDAQ:SNPS) CEO Chi-Foon Chan sold 18,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $41.55, for a total transaction of $747,900.00. Following the completion of the sale, the chief executive officer now directly owns 190,899 shares of the company’s stock, valued at approximately $7,931,853. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Synopsys (NASDAQ:SNPS) traded down 0.12% on Monday, hitting $40.64. 687,238 shares of the company’s stock traded hands. Synopsys has a 52-week low of $34.55 and a 52-week high of $42.55. The stock has a 50-day moving average of $38.86 and a 200-day moving average of $38.83. The company has a market cap of $6.325 billion and a price-to-earnings ratio of 25.27.
Synopsys (NASDAQ:SNPS) last released its earnings data on Wednesday, August 20th. 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 $521.80 million for the quarter. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Synopsys will post $2.50 EPS for the current fiscal year.
SNPS has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Synopsys in a research note on Friday. They now have a $44.00 price target on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Synopsys in a research note on Thursday. They now have a $46.50 price target on the stock, up previously from $45.00. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.07.
Synopsys, Inc is engaged in providing technology solutions used to develop electronics and electronic systems.
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