Insider Selling: Synopsys (NASDAQ:SNPS) CAO Sells 9,873 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) CAO Sudhindra Kankanwadi sold 9,873 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the transaction, the chief accounting officer directly owned 20,520 shares of the company’s stock, valued at approximately $10,278,468. This trade represents a 32.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sudhindra Kankanwadi also recently made the following trade(s):

• On Friday, September 19th, Sudhindra Kankanwadi sold 6,000 shares of Synopsys stock. The shares were sold at an average price of $482.00, for a total transaction of $2,892,000.00.

Synopsys Trading Up 4.1%

NASDAQ SNPS opened at $487.20 on Friday. The firm has a 50 day simple moving average of $573.65 and a 200-day simple moving average of $507.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The firm has a market cap of $90.50 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 5.28 and a beta of 1.14.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Cornerstone Planning Group LLC raised its holdings 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 purchasing an additional 44 shares in the last quarter. Saudi Central Bank acquired a new stake in Synopsys during the first quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Independence Bank of Kentucky raised its holdings in Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 10th. Wall Street Zen lowered shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. lowered their price objective on shares of Synopsys from $685.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Bank of America reaffirmed an “underperform” rating and issued a $525.00 target price (down previously from $625.00) on shares of Synopsys in a report on Wednesday, September 10th. Finally, Needham & Company LLC reduced their target price on shares of Synopsys from $660.00 to $550.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Synopsys has an average rating of “Hold” and an average target price of $585.33.

About Synopsys

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.