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 Synopsys 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 transaction, the chief executive officer now directly owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Synopsys Price Performance

NASDAQ:SNPS opened at $447.96 on Thursday. Synopsys, Inc. has a one year low of $429.77 and a one year high of $624.80. The company has a market cap of $69.26 billion, a PE ratio of 30.85, a PEG ratio of 3.23 and a beta of 1.12. The firm has a 50-day moving average of $503.01 and a 200-day moving average of $513.56.

Institutional Trading of Synopsys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNPS. Kieckhefer Group LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $27,000. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter valued at $29,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys in the 4th quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, February 27th. Morgan Stanley cut their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Tuesday, February 25th. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 target price on the stock. Finally, Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target 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.