Synopsys, Inc. (SNPS) Director Sells $409,595.40 in Stock

Synopsys, Inc. (NASDAQ:SNPS) Director Steven Walske sold 4,545 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total transaction of $409,595.40. Following the completion of the sale, the director now owns 14,988 shares in the company, valued at $1,350,718.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Synopsys, Inc. (NASDAQ:SNPS) traded up $1.71 during mid-day trading on Wednesday, reaching $90.98. 658,324 shares of the company traded hands, compared to its average volume of 837,482. Synopsys, Inc. has a 12-month low of $60.41 and a 12-month high of $94.80. The firm has a market cap of $13,439.26, a P/E ratio of 107.04, a price-to-earnings-growth ratio of 4.03 and a beta of 1.01. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.04.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.12. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The firm had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. During the same quarter in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. sell-side analysts predict that Synopsys, Inc. will post 2.24 EPS for the current year.

A number of hedge funds have recently made changes to their positions in SNPS. Private Advisor Group LLC acquired a new position in Synopsys in the 2nd quarter valued at about $261,000. CIBC World Markets Inc. acquired a new position in Synopsys in the 2nd quarter valued at about $615,000. Franklin Resources Inc. acquired a new position in Synopsys in the 2nd quarter valued at about $13,023,000. Wells Fargo & Company MN raised its stake in Synopsys by 108.6% in the 2nd quarter. Wells Fargo & Company MN now owns 582,893 shares of the semiconductor company’s stock valued at $42,510,000 after purchasing an additional 303,507 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Synopsys by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 264,264 shares of the semiconductor company’s stock valued at $19,273,000 after purchasing an additional 1,455 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on SNPS. Royal Bank of Canada upgraded shares of Synopsys from an “outperform” rating to a “top pick” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. Zacks Investment Research lowered shares of Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Needham & Company LLC boosted their price objective on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. DA Davidson reiterated a “buy” rating and issued a $105.00 price objective (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Finally, BidaskClub lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $96.89.

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About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

Insider Buying and Selling by Quarter for Synopsys (NASDAQ:SNPS)

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