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

Synopsys, Inc. (NASDAQ:SNPS) CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Synopsys Price Performance

Synopsys stock opened at $500.73 on Thursday. The stock has a market capitalization of $77.69 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The firm’s 50-day moving average is $462.08 and its two-hundred day moving average is $482.81.

Synopsys (NASDAQ:SNPS) last announced its earnings results 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 firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. Synopsys’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 earnings per share. As a group, analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Institutional Investors Weigh In On Synopsys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC lifted its position in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after buying an additional 44 shares during the period. Saudi Central Bank purchased a new position in shares of Synopsys during the 1st quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd boosted 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 worth $28,000 after acquiring an additional 53 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter worth approximately $29,000. Finally, Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SNPS. KeyCorp set a $540.00 price objective on Synopsys in a research note on Tuesday, June 3rd. Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Finally, Morgan Stanley dropped their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $607.14.

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.