Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $3,081,669.03 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Synopsys Trading Up 1.5 %

NASDAQ SNPS opened at $575.45 on Monday. The company has a fifty day simple moving average of $567.49 and a two-hundred day simple moving average of $528.20. The stock has a market cap of $87.76 billion, a P/E ratio of 63.38, a P/E/G ratio of 3.27 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $1.75 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Gotham Asset Management LLC increased its holdings in Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after buying an additional 2,227 shares in the last quarter. Comerica Bank acquired a new position in Synopsys in the 3rd quarter valued at about $14,203,000. Moody Lynn & Lieberson LLC acquired a new position in Synopsys in the 3rd quarter valued at about $1,606,000. DNB Asset Management AS boosted its holdings in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after purchasing an additional 8,259 shares during the last quarter. Finally, Advisor Resource Council boosted its holdings in Synopsys by 525.4% in the 4th quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company’s stock valued at $1,752,000 after purchasing an additional 2,858 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SNPS shares. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Wells Fargo & Company upped their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Piper Sandler initiated coverage on shares of Synopsys in a research report on Thursday. They issued an “overweight” rating and a $665.00 price target for the company. Robert W. Baird upped their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $601.00.

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.