Synopsys, Inc. (NASDAQ:SNPS) General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $87.00, for a total transaction of $870,000.00. Following the completion of the sale, the general counsel now directly owns 23,052 shares in the company, valued at approximately $2,005,524. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Synopsys, Inc. (NASDAQ SNPS) opened at $89.09 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a 1-year low of $69.42 and a 1-year high of $94.80. The stock has a market cap of $13,250.00, a price-to-earnings ratio of 83.26, a price-to-earnings-growth ratio of 5.81 and a beta of 1.09.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. The business had revenue of $769.40 million for the quarter, compared to analysts’ expectations of $750.43 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. equities research analysts forecast that Synopsys, Inc. will post 1.54 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. raised its holdings in Synopsys by 1.9% during the 4th quarter. GHP Investment Advisors Inc. now owns 33,011 shares of the semiconductor company’s stock valued at $2,814,000 after acquiring an additional 626 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Synopsys by 8.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,298 shares of the semiconductor company’s stock valued at $749,000 after acquiring an additional 690 shares during the period. National Pension Service raised its holdings in Synopsys by 0.4% during the 4th quarter. National Pension Service now owns 176,640 shares of the semiconductor company’s stock valued at $15,057,000 after acquiring an additional 692 shares during the period. MML Investors Services LLC raised its holdings in Synopsys by 24.3% during the 4th quarter. MML Investors Services LLC now owns 3,602 shares of the semiconductor company’s stock valued at $307,000 after acquiring an additional 705 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in Synopsys by 2.5% during the 4th quarter. Sumitomo Life Insurance Co. now owns 30,917 shares of the semiconductor company’s stock valued at $2,635,000 after acquiring an additional 760 shares during the period. 90.53% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Synopsys from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Monday, February 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Synopsys in a report on Friday, February 23rd. KeyCorp reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $106.00) on shares of Synopsys in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. cut shares of Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target on the stock. in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Synopsys currently has a consensus rating of “Hold” and a consensus target price of $97.33.
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Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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