Synopsys Sees Unusually Large Options Volume (SNPS)

Synopsys, Inc. (NASDAQ:SNPS) saw unusually large options trading on Monday. Stock traders purchased 2,486 call options on the stock. This represents an increase of approximately 1,688% compared to the typical daily volume of 139 call options.

In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total value of $1,020,000.00. Following the sale, the general counsel now owns 22,322 shares in the company, valued at approximately $2,276,844. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph W. Logan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the sale, the executive vice president now owns 88,271 shares in the company, valued at approximately $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold a total of 33,609 shares of company stock worth $3,416,177 in the last quarter. 1.84% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the business. Robecosam AG lifted its stake in shares of Synopsys by 22.4% during the 2nd quarter. Robecosam AG now owns 3,000 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 550 shares during the period. Intrust Bank NA increased its holdings in shares of Synopsys by 11.9% during the 2nd quarter. Intrust Bank NA now owns 5,681 shares of the semiconductor company’s stock worth $486,000 after buying an additional 606 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Synopsys by 1.2% during the 1st quarter. Stifel Financial Corp now owns 56,390 shares of the semiconductor company’s stock worth $4,693,000 after buying an additional 661 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Synopsys by 3.0% during the 2nd quarter. CIBC Asset Management Inc now owns 23,635 shares of the semiconductor company’s stock worth $2,022,000 after buying an additional 683 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Synopsys by 28.2% during the 2nd quarter. Raymond James Trust N.A. now owns 3,179 shares of the semiconductor company’s stock worth $272,000 after buying an additional 699 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors.

SNPS stock opened at $91.29 on Tuesday. Synopsys has a 1 year low of $80.13 and a 1 year high of $103.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $14.65 billion, a P/E ratio of 103.74, a P/E/G ratio of 6.28 and a beta of 1.18.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The company had revenue of $779.70 million for the quarter, compared to analyst estimates of $773.61 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts expect that Synopsys will post 1.57 earnings per share for the current year.

A number of equities research analysts recently weighed in on SNPS shares. BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. DA Davidson upped their target price on Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. upped their target price on Synopsys to $98.00 and gave the company an “underweight” rating in a research note on Thursday, August 23rd. Finally, KeyCorp upped their target price on Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Synopsys presently has a consensus rating of “Hold” and a consensus price target of $106.14.

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.

Featured Article: The Role of a Fiduciary and Individual Investors

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply