Synopsys (SNPS) CEO Chi-Foon Chan Sells 778 Shares

Synopsys (NASDAQ:SNPS) CEO Chi-Foon Chan sold 778 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $90.06, for a total value of $70,066.68. Following the completion of the sale, the chief executive officer now directly owns 210,131 shares of the company’s stock, valued at approximately $18,924,397.86. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Chi-Foon Chan also recently made the following trade(s):

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  • On Friday, February 23rd, Chi-Foon Chan sold 3,609 shares of Synopsys stock. The stock was sold at an average price of $84.77, for a total value of $305,934.93.

SNPS traded down $1.57 on Friday, reaching $81.39. 1,206,955 shares of the stock were exchanged, compared to its average volume of 842,684. Synopsys has a fifty-two week low of $70.55 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $12,104.73, a P/E ratio of 92.49, a P/E/G ratio of 5.24 and a beta of 1.09.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The business had revenue of $769.40 million during the quarter, compared to analysts’ expectations of $750.43 million. Synopsys had a return on equity of 6.72% and a net margin of 1.63%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. analysts predict that Synopsys will post 1.55 EPS for the current fiscal year.

A number of analysts have recently weighed in on SNPS shares. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Synopsys in a research report on Friday, February 23rd. BidaskClub raised Synopsys from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. JPMorgan Chase cut Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target for the company. in a research report on Tuesday, December 12th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $106.00) on shares of Synopsys in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $97.33.

Several hedge funds have recently modified their holdings of SNPS. Stevens Capital Management LP acquired a new position in shares of Synopsys in the 3rd quarter valued at about $583,000. State of Tennessee Treasury Department lifted its holdings in shares of Synopsys by 6.6% in the 3rd quarter. State of Tennessee Treasury Department now owns 60,068 shares of the semiconductor company’s stock valued at $4,838,000 after buying an additional 3,722 shares during the period. American Century Companies Inc. lifted its holdings in shares of Synopsys by 24.8% in the 3rd quarter. American Century Companies Inc. now owns 351,387 shares of the semiconductor company’s stock valued at $28,297,000 after buying an additional 69,912 shares during the period. Jennison Associates LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at about $721,000. Finally, Global X MANAGEMENT CO LLC lifted its holdings in shares of Synopsys by 17.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 5,784 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 879 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

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Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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.

Insider Buying and Selling by Quarter for Synopsys (NASDAQ:SNPS)

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