Synopsys, Inc. (NASDAQ:SNPS) Insider Sells $6,979,616.10 in Stock

Synopsys, Inc. (NASDAQ:SNPS) insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Synopsys Price Performance

Synopsys stock traded down $15.68 during midday trading on Monday, reaching $435.20. The company’s stock had a trading volume of 891,313 shares, compared to its average volume of 1,181,706. The stock has a market capitalization of $67.29 billion, a P/E ratio of 30.01, a PEG ratio of 3.23 and a beta of 1.16. The stock’s 50-day simple moving average is $501.21 and its 200-day simple moving average is $511.66. Synopsys, Inc. has a 52-week low of $429.77 and a 52-week high of $624.80.

Analyst Ratings Changes

SNPS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, February 27th. Loop Capital started coverage on Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic initiated coverage on shares of Synopsys in a research report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” 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 given a buy rating to the company. Based on data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Impax Asset Management Group plc raised its position in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Synopsys by 115.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 929 shares of the semiconductor company’s stock worth $471,000 after purchasing an additional 498 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Synopsys during the 3rd quarter worth approximately $1,138,000. Verdence Capital Advisors LLC increased its holdings in shares of Synopsys by 32.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 139 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Synopsys by 4.3% during the third quarter. Assetmark Inc. now owns 15,903 shares of the semiconductor company’s stock worth $8,053,000 after buying an additional 650 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

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.