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 dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Synopsys Stock Performance

NASDAQ:SNPS opened at $482.20 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The firm’s 50-day simple moving average is $455.95 and its 200 day simple moving average is $484.27. The firm has a market cap of $74.82 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate 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 for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. Sell-side analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Hedge Funds Weigh In On Synopsys

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its position in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. Saudi Central Bank bought a new position in Synopsys in the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in Synopsys by 441.7% during 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 in the last quarter. Ameriflex Group Inc. acquired a new position in Synopsys during the fourth quarter valued at approximately $29,000. Finally, Whipplewood Advisors LLC bought a new stake in Synopsys during the fourth quarter worth $33,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased 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. KeyCorp set a $575.00 target price on shares of Synopsys and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $609.64.

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.