Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at $32,890,077.50. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Synopsys Stock Up 0.5 %
Shares of SNPS opened at $445.47 on Wednesday. Synopsys, Inc. has a 12-month low of $429.77 and a 12-month high of $624.80. The firm has a market capitalization of $68.88 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 3.23 and a beta of 1.12. The stock's 50-day moving average price is $504.06 and its 200 day moving average price is $514.02.
Hedge Funds Weigh In On Synopsys
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Synopsys by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors grew its stake in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the period. State Street Corp grew its stake in shares of Synopsys by 1.7% in the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company's stock valued at $3,518,637,000 after purchasing an additional 119,057 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. 85.47% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on SNPS shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, February 27th. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a "buy" rating and a $600.00 price objective on the stock. Robert W. Baird dropped their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $638.58.
Check Out Our Latest Report on Synopsys
Synopsys Company Profile
(
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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.
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