Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) CEO Sells 11,366 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the completion of the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Synopsys Price Performance

SNPS traded down $0.54 during trading on Tuesday, hitting $442.72. The company had a trading volume of 615,296 shares, compared to its average volume of 1,154,440. The company has a market cap of $68.45 billion, a PE ratio of 30.43, a P/E/G ratio of 3.23 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The business has a 50-day moving average of $505.15 and a 200-day moving average of $514.75.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, February 27th. Piper Sandler cut their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic assumed 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. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target on the stock. Finally, Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Hedge Funds Weigh In On Synopsys

A number of hedge funds have recently bought and sold shares of SNPS. Advisors Capital Management LLC raised its holdings in shares of Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. Caprock Group LLC grew its position in shares of Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 20 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 20 shares during the period. Finally, Edge Capital Group LLC lifted its position in Synopsys by 1.2% in the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.