Insider Buying: Synopsys, Inc. (NASDAQ:SNPS) Director Buys 750 Shares of Stock

Synopsys, Inc. (NASDAQ:SNPS) Director Marc N. Casper bought 750 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Synopsys Stock Performance

Shares of Synopsys stock traded down $3.65 on Wednesday, reaching $580.67. 340,763 shares of the company were exchanged, compared to its average volume of 1,325,085. The company’s 50-day moving average is $558.62 and its two-hundred day moving average is $520.91. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 64.35, a P/E/G ratio of 3.29 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm earned $1.75 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 10.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Robert W. Baird increased their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company increased their price target on Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $594.60.

Institutional Trading of Synopsys

Several large investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. boosted its stake in Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares in the last quarter. Mission Wealth Management LP boosted its stake in Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares in the last quarter. Fred Alger Management LLC boosted its stake in Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 20 shares in the last quarter. Quent Capital LLC boosted its stake in Synopsys by 1.9% during the 3rd quarter. Quent Capital LLC now owns 1,138 shares of the semiconductor company’s stock valued at $522,000 after purchasing an additional 21 shares in the last quarter. Finally, Allstate Corp boosted its stake in Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 21 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

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.