Synopsys, Inc. (NASDAQ:SNPS) Short Interest Update

Synopsys, Inc. (NASDAQ:SNPSGet Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,210,000 shares, a growth of 25.1% from the August 15th total of 966,900 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 865,700 shares, the short-interest ratio is presently 1.4 days.

Synopsys Stock Down 3.1 %

Synopsys stock traded down $14.22 during midday trading on Friday, hitting $451.93. 1,680,962 shares of the stock were exchanged, compared to its average volume of 709,769. The company has a fifty day simple moving average of $448.02 and a two-hundred day simple moving average of $414.73. The stock has a market capitalization of $68.74 billion, a PE ratio of 67.76, a P/E/G ratio of 3.61 and a beta of 1.11. Synopsys has a 52 week low of $267.00 and a 52 week high of $471.15.

Synopsys (NASDAQ:SNPSGet Free Report) last released its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.14. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Synopsys had a return on equity of 18.01% and a net margin of 18.71%. Synopsys’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, equities research analysts anticipate that Synopsys will post 7.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Synopsys from $445.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price target on shares of Synopsys in a report on Tuesday, August 15th. Rosenblatt Securities reissued a “buy” rating and set a $485.00 price objective on shares of Synopsys in a report on Wednesday, August 23rd. Robert W. Baird increased their price target on shares of Synopsys from $491.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Finally, KeyCorp boosted their price objective on shares of Synopsys from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $462.50.

Read Our Latest Stock Analysis on SNPS

Insider Buying and Selling

In other news, insider John F. Runkel, Jr. sold 2,507 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $455.00, for a total value of $1,140,685.00. Following the sale, the insider now directly owns 24,732 shares in the company, valued at approximately $11,253,060. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider John F. Runkel, Jr. sold 2,507 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $455.00, for a total value of $1,140,685.00. Following the sale, the insider now owns 24,732 shares in the company, valued at approximately $11,253,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Geus Aart De sold 40,839 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total transaction of $17,486,443.02. Following the sale, the chief executive officer now owns 94,421 shares of the company’s stock, valued at approximately $40,429,183.78. The disclosure for this sale can be found here. Insiders sold 50,953 shares of company stock valued at $22,116,008 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently modified their holdings of SNPS. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Synopsys by 78,551.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 41,722,068 shares of the semiconductor company’s stock valued at $18,166,206,000 after acquiring an additional 41,669,021 shares during the last quarter. State Street Corp lifted its position in shares of Synopsys by 2.9% in the second quarter. State Street Corp now owns 6,685,758 shares of the semiconductor company’s stock valued at $2,911,046,000 after buying an additional 186,800 shares during the last quarter. Capital World Investors boosted its stake in shares of Synopsys by 15.6% during the 2nd quarter. Capital World Investors now owns 6,197,508 shares of the semiconductor company’s stock worth $2,698,457,000 after acquiring an additional 836,667 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,636,421 shares of the semiconductor company’s stock worth $2,177,068,000 after acquiring an additional 246,007 shares during the last quarter. Finally, FMR LLC lifted its holdings in Synopsys by 14.0% during the 1st quarter. FMR LLC now owns 3,436,957 shares of the semiconductor company’s stock valued at $1,327,524,000 after purchasing an additional 420,783 shares during the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.

About Synopsys

(Get Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.

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