Synopsys, Inc. (NASDAQ:SNPS) Insider Geus Aart De Sells 15,705 Shares of Stock

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

Synopsys Stock Down 4.7 %

NASDAQ:SNPS opened at $429.85 on Tuesday. Synopsys, Inc. has a 52 week low of $427.30 and a 52 week high of $624.80. The company has a market capitalization of $66.46 billion, a P/E ratio of 29.60, a P/E/G ratio of 3.23 and a beta of 1.16. The stock’s fifty day moving average is $500.07 and its two-hundred day moving average is $510.83.

Institutional Investors Weigh In On Synopsys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Capital Management LLC raised its position in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock valued at $408,000 after purchasing an additional 19 shares during the period. Caprock Group LLC grew its stake in shares of Synopsys by 0.5% in the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after buying an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares in the last quarter. Edge Capital Group LLC grew its stake in shares of Synopsys by 1.2% in the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. grew its stake in shares of Synopsys by 1.1% in the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lowered their price target on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Piper Sandler lowered their price target on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average target price of $638.58.

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.