Synopsys, Inc. (NASDAQ:SNPS) CFO Sells $14,966,960.00 in Stock

Synopsys, Inc. (NASDAQ:SNPSGet Rating) CFO Trac Pham sold 49,072 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $305.00, for a total transaction of $14,966,960.00. Following the completion of the transaction, the chief financial officer now owns 58,204 shares of the company’s stock, valued at $17,752,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Synopsys stock traded up $15.48 during trading hours on Friday, reaching $321.58. 37,366 shares of the company’s stock were exchanged, compared to its average volume of 1,003,242. Synopsys, Inc. has a 52-week low of $247.87 and a 52-week high of $377.60. The firm has a market capitalization of $49.19 billion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 3.29 and a beta of 1.21. The company has a fifty day moving average of $302.09 and a 200-day moving average of $319.05.

Synopsys (NASDAQ:SNPSGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.09. Synopsys had a return on equity of 18.23% and a net margin of 21.19%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $1.24 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 5.63 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Curi Wealth Management LLC purchased a new position in Synopsys in the fourth quarter valued at about $26,000. San Luis Wealth Advisors LLC purchased a new position in shares of Synopsys during the 1st quarter valued at approximately $29,000. Confluence Wealth Services Inc. acquired a new stake in shares of Synopsys during the 4th quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Synopsys during the 4th quarter valued at approximately $35,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Synopsys by 105.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 109 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 56 shares during the period. 84.71% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on SNPS. StockNews.com cut Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 3rd. Atlantic Securities decreased their target price on shares of Synopsys to $350.00 and set a “na” rating on the stock in a report on Thursday, May 19th. Needham & Company LLC upped their price objective on shares of Synopsys from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, May 19th. Wells Fargo & Company cut their target price on shares of Synopsys from $415.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Finally, UBS Group cut their target price on shares of Synopsys to $360.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and an average price target of $377.45.

About Synopsys (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; 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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