Investors Buy High Volume of Synopsys Put Options (SNPS)

Synopsys, Inc. (NASDAQ:SNPS) was the target of unusually large options trading on Monday. Traders acquired 3,260 put options on the stock. This is an increase of approximately 1,829% compared to the average daily volume of 169 put options.

In related news, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $336,675.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $88.00, for a total value of $880,000.00. Following the sale, the general counsel now owns 18,742 shares in the company, valued at $1,649,296. The disclosure for this sale can be found here. Insiders have sold a total of 65,442 shares of company stock valued at $5,779,693 in the last three months. 1.82% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Pictet Asset Management Ltd. grew its stake in shares of Synopsys by 79.9% in the third quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock worth $170,509,000 after purchasing an additional 940,616 shares during the last quarter. First Trust Advisors LP lifted its holdings in Synopsys by 426.3% in the fourth quarter. First Trust Advisors LP now owns 1,038,634 shares of the semiconductor company’s stock valued at $88,533,000 after buying an additional 841,300 shares during the period. BlackRock Inc. lifted its holdings in Synopsys by 5.5% in the fourth quarter. BlackRock Inc. now owns 12,640,021 shares of the semiconductor company’s stock valued at $1,077,434,000 after buying an additional 658,966 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Synopsys by 37.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,853,499 shares of the semiconductor company’s stock valued at $157,992,000 after buying an additional 505,334 shares during the period. Finally, Koch Industries Inc. acquired a new position in Synopsys in the second quarter valued at $485,000. 89.77% of the stock is currently owned by institutional investors.

Shares of Synopsys (SNPS) traded up $1.12 on Wednesday, reaching $86.62. The company’s stock had a trading volume of 1,289,392 shares, compared to its average volume of 990,858. The company has a market cap of $12,689.74, a price-to-earnings ratio of 100.59, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04. Synopsys has a 52-week low of $65.56 and a 52-week high of $94.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. The firm had revenue of $696.60 million for the quarter, compared to analyst estimates of $650.72 million. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. equities analysts forecast that Synopsys will post 2.24 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the company. BidaskClub upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Needham & Company LLC increased their price target on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. TheStreet lowered Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Zacks Investment Research lowered Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Finally, JPMorgan Chase & Co. lowered Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target on the stock. in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Synopsys currently has a consensus rating of “Hold” and an average price target of $96.89.

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Synopsys Company Profile

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.

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