Synopsys, Inc. (NASDAQ:SNPS) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,823,567 shares, a decline of 40.0% from the June 15th total of 3,040,749 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,018,469 shares, the days-to-cover ratio is currently 1.8 days.

A number of analysts have commented on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $76.00 price target on shares of Synopsys in a research report on Monday, April 17th. J P Morgan Chase & Co reaffirmed an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 price target (up previously from $77.00) on shares of Synopsys in a research report on Thursday, May 18th. Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $87.00 price target (up previously from $80.00) on shares of Synopsys in a research report on Friday, May 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $75.78.

In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $70.96, for a total transaction of $266,100.00. Following the completion of the sale, the chief executive officer now owns 204,179 shares of the company’s stock, valued at approximately $14,488,541.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Geus Aart De sold 264,000 shares of Synopsys stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $71.01, for a total value of $18,746,640.00. Following the sale, the chairman now directly owns 220,133 shares of the company’s stock, valued at approximately $15,631,644.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,246 shares of company stock worth $21,608,505. 1.82% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in SNPS. Cypress Wealth Advisors LLC increased its stake in shares of Synopsys by 1.7% in the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 81 shares during the period. Pacer Advisors Inc. increased its stake in shares of Synopsys by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,861 shares of the semiconductor company’s stock valued at $206,000 after buying an additional 88 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 92 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Synopsys by 4.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,036 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 172 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Synopsys by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 45,937 shares of the semiconductor company’s stock valued at $3,313,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Synopsys (NASDAQ:SNPS) opened at 75.27 on Monday. Synopsys has a one year low of $53.53 and a one year high of $76.57. The firm has a market cap of $11.31 billion, a PE ratio of 42.05 and a beta of 1.01. The stock has a 50 day moving average price of $74.23 and a 200 day moving average price of $69.19.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The business had revenue of $680.07 million during the quarter, compared to the consensus estimate of $672.40 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts expect that Synopsys will post $3.28 EPS for the current year.

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Synopsys Company Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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