Synopsys, Inc. (NASDAQ:SNPS - Get Free Report) insider John F. Runkel, Jr. sold 5,319 shares of the business's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares of the company's stock, valued at $11,587,400. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Synopsys Stock Up 1.5 %
Shares of Synopsys stock opened at $575.45 on Friday. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The stock has a market cap of $87.76 billion, a P/E ratio of 63.38, a P/E/G ratio of 3.22 and a beta of 1.06. The business's 50 day moving average is $566.54 and its 200-day moving average is $526.41.
Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the business posted $1.75 EPS. The business's revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 10.06 EPS for the current year.
Institutional Investors Weigh In On Synopsys
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A number of institutional investors and hedge funds have recently made changes to their positions in SNPS. Norges Bank bought a new stake in shares of Synopsys during the 4th quarter worth approximately $891,507,000. Alliancebernstein L.P. raised its stake in Synopsys by 351.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company's stock valued at $566,170,000 after acquiring an additional 1,380,699 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Synopsys by 113,493.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company's stock valued at $421,450,000 after acquiring an additional 1,318,798 shares during the period. Goldman Sachs Group Inc. raised its stake in Synopsys by 90.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company's stock valued at $244,353,000 after acquiring an additional 347,807 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company's stock valued at $925,744,000 after acquiring an additional 344,430 shares during the period. Institutional investors own 85.47% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on SNPS shares. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price objective on Synopsys from $620.00 to $630.00 and gave the company an "overweight" rating in a research report on Wednesday, December 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird upped their price target on Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a research report on Thursday, February 22nd. Finally, StockNews.com raised Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of "Buy" and a consensus price target of $601.00.
View Our Latest Report on SNPS
About Synopsys
(
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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.
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