Sassine Ghazi Sells 11,366 Shares of Synopsys, Inc. (NASDAQ:SNPS) Stock

Synopsys, Inc. (NASDAQ:SNPS) CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Synopsys Stock Performance

Shares of Synopsys stock opened at $486.00 on Friday. The firm has a 50-day simple moving average of $456.95 and a two-hundred day simple moving average of $483.94. The company has a market cap of $75.41 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNPS. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Rosenblatt Securities dropped their price objective 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. Piper Sandler reissued an “overweight” rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Mizuho decreased their target price on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.14.

Institutional Trading of Synopsys

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $583,608,000. GAMMA Investing LLC grew its stake in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock valued at $513,116,000 after buying an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after buying an additional 1,045,326 shares during the period. Nuveen LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at approximately $341,480,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Company Profile

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.