Synopsys, Inc. (NASDAQ:SNPS) CFO Shelagh Glaser Sells 7,310 Shares

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

Synopsys Stock Performance

Synopsys stock opened at $495.77 on Tuesday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock’s 50 day moving average price is $458.10 and its two-hundred day moving average price is $482.53. The stock has a market capitalization of $76.92 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPSGet Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

SNPS has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities lowered their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $607.14.

Check Out Our Latest Report on SNPS

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the fourth quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 44 shares during the period. Saudi Central Bank bought a new stake in shares of Synopsys in the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the fourth quarter valued at approximately $33,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

About Synopsys

(Get Free Report)

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.

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