Synopsys, Inc. (NASDAQ:SNPS) General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $137.47, for a total value of $1,374,700.00. Following the completion of the sale, the general counsel now owns 16,848 shares in the company, valued at $2,316,094.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
NASDAQ:SNPS opened at $135.25 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 3.85 and a beta of 1.23. The stock has a 50-day moving average price of $134.96 and a two-hundred day moving average price of $123.20. Synopsys, Inc. has a 1 year low of $79.14 and a 1 year high of $146.66.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $831.03 million. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Sell-side analysts forecast that Synopsys, Inc. will post 3.15 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Next Capital Management LLC acquired a new position in Synopsys during the second quarter worth $26,000. Ruggie Capital Group bought a new position in shares of Synopsys in the 2nd quarter valued at about $32,000. Hanseatic Management Services Inc. bought a new position in shares of Synopsys in the 1st quarter valued at about $30,000. Virtus ETF Advisers LLC acquired a new stake in shares of Synopsys in the second quarter valued at about $34,000. Finally, Arcadia Investment Management Corp MI bought a new stake in Synopsys during the second quarter worth about $42,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on SNPS shares. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 price target (up from $150.00) on shares of Synopsys in a report on Thursday, August 22nd. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating and set a $142.00 target price for the company in a research note on Monday, August 26th. DA Davidson upped their price target on Synopsys to $155.00 and gave the company a “positive” rating in a research note on Thursday, August 22nd. Bank of America reissued an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. Finally, Credit Suisse Group reiterated a “positive” rating and set a $150.00 price target (up previously from $125.00) on shares of Synopsys in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $137.20.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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.
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