Investors Purchase Large Volume of Put Options on Synopsys (NASDAQ:SNPS)

Synopsys, Inc. (NASDAQ:SNPS) was the recipient of unusually large options trading on Thursday. Traders purchased 4,367 put options on the stock. This represents an increase of approximately 1,162% compared to the average volume of 346 put options.

In other Synopsys news, CEO Chi-Foon Chan sold 7,040 shares of the firm’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $242.96, for a total transaction of $1,710,438.40. Also, Director Chrysostomos L. Nikias sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $250.05, for a total value of $250,050.00. Following the sale, the director now owns 23,232 shares in the company, valued at approximately $5,809,161.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,752 shares of company stock worth $13,022,679. Company insiders own 1.56% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Synopsys by 1.1% in the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock valued at $29,613,000 after buying an additional 2,914 shares in the last quarter. Creative Planning boosted its stake in Synopsys by 3.4% in the 4th quarter. Creative Planning now owns 3,022 shares of the semiconductor company’s stock worth $783,000 after purchasing an additional 98 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Synopsys by 1.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 55,632 shares of the semiconductor company’s stock worth $14,422,000 after purchasing an additional 690 shares in the last quarter. Parsec Financial Management Inc. acquired a new stake in shares of Synopsys in the fourth quarter worth $207,000. Finally, CIBC Asset Management Inc grew its position in Synopsys by 7.0% during the 4th quarter. CIBC Asset Management Inc now owns 31,898 shares of the semiconductor company’s stock worth $8,269,000 after purchasing an additional 2,100 shares during the period. 85.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of SNPS opened at $262.07 on Friday. Synopsys has a twelve month low of $176.15 and a twelve month high of $300.91. The stock has a market capitalization of $39.99 billion, a P/E ratio of 50.89, a P/E/G ratio of 3.91 and a beta of 1.04. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $249.73.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Tuesday, May 18th. The semiconductor company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.17. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.20 million. Synopsys had a net margin of 20.27% and a return on equity of 16.58%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. As a group, sell-side analysts forecast that Synopsys will post 4.61 EPS for the current year.

A number of research analysts have recently issued reports on the company. UBS Group raised their price objective on Synopsys from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Rosenblatt Securities assumed coverage on Synopsys in a research report on Tuesday, June 1st. They set a “buy” rating and a $302.00 price objective on the stock. Credit Suisse Group increased their price objective on Synopsys from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 18th. Needham & Company LLC increased their price objective on Synopsys from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 18th. Finally, KeyCorp raised their price target on Synopsys from $315.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Synopsys has a consensus rating of “Buy” and an average price target of $289.92.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform that provides 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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