Synopsys (NASDAQ:SNPS) Reaches New 52-Week Low on Insider Selling

Synopsys, Inc. (NASDAQ:SNPS) reached a new 52-week low on Monday after an insider sold shares in the company. The company traded as low as $427.30 and last traded at $433.81, with a volume of 1194222 shares. The stock had previously closed at $450.88.

Specifically, insider Geus Aart De sold 15,705 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company’s stock, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, February 27th. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Synopsys Trading Down 4.7 %

The firm has a market capitalization of $66.46 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The firm has a 50 day moving average price of $500.07 and a 200-day moving average price of $510.83.

Institutional Investors Weigh In On Synopsys

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after acquiring an additional 120,575 shares during the last quarter. Capital World Investors increased its holdings in shares of Synopsys by 1.6% in the 4th 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 during the period. State Street Corp grew its stake in Synopsys by 1.7% during the 3rd quarter. State Street Corp now owns 6,948,473 shares of the semiconductor company’s stock worth $3,518,637,000 after buying an additional 119,057 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Synopsys by 21.5% during the 4th 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 buying an additional 1,045,326 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after buying an additional 75,298 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

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.