Insider Selling: Synopsys, Inc. (NASDAQ:SNPS) CEO Sells $5,270,982.50 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Synopsys Stock Performance

SNPS stock traded down $0.54 during midday trading on Tuesday, reaching $442.72. 615,296 shares of the company were exchanged, compared to its average volume of 1,154,440. The stock’s 50-day simple moving average is $505.15 and its 200 day simple moving average is $514.75. Synopsys, Inc. has a 1-year low of $429.77 and a 1-year high of $624.80. The company has a market cap of $68.45 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.12.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Redburn Atlantic assumed coverage on shares of Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $638.58.

Hedge Funds Weigh In On Synopsys

Several hedge funds have recently made changes to their positions in SNPS. Vanguard Group Inc. grew its stake in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the last quarter. Capital World Investors boosted its holdings in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after acquiring an additional 114,893 shares in the last quarter. State Street Corp increased its stake in shares of Synopsys by 1.7% during the third quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after acquiring an additional 119,057 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

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.