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 that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Synopsys Price Performance

SNPS opened at $447.96 on Thursday. The company’s 50 day moving average price is $503.01 and its two-hundred day moving average price is $513.56. The firm has a market capitalization of $69.26 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $429.77 and a fifty-two week high of $624.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their price target 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. Finally, Piper Sandler dropped their price objective on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synopsys has an average rating of “Moderate Buy” and an average price target of $638.58.

Institutional Trading of Synopsys

Several institutional investors have recently modified their holdings of the business. Advisors Capital Management LLC lifted its holdings in Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after acquiring an additional 20 shares during the last quarter. Finally, Edge Capital Group LLC increased its position in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 20 shares during the period. 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.