Synopsys Sees Unusually High Options Volume (SNPS)

Synopsys, Inc. (NASDAQ:SNPS) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 774 put options on the stock. This represents an increase of 833% compared to the typical volume of 83 put options.

In other Synopsys news, VP Sudhindra Kankanwadi sold 2,085 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total transaction of $214,150.35. Following the completion of the sale, the vice president now directly owns 10,387 shares in the company, valued at $1,066,848.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the sale, the general counsel now owns 21,071 shares of the company’s stock, valued at $2,143,131.41. The disclosure for this sale can be found here. Insiders have sold 142,190 shares of company stock valued at $14,729,218 over the last 90 days. Company insiders own 1.84% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lunia Capital LP bought a new position in Synopsys in the fourth quarter valued at approximately $18,330,000. Norges Bank bought a new position in Synopsys in the fourth quarter valued at approximately $133,697,000. JPMorgan Chase & Co. increased its stake in Synopsys by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock valued at $607,189,000 after acquiring an additional 1,513,575 shares during the last quarter. Egerton Capital UK LLP increased its stake in Synopsys by 142.3% in the first quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock valued at $253,271,000 after acquiring an additional 1,291,643 shares during the last quarter. Finally, Parnassus Investments CA increased its stake in Synopsys by 15.9% in the fourth quarter. Parnassus Investments CA now owns 6,795,161 shares of the semiconductor company’s stock valued at $572,424,000 after acquiring an additional 931,666 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.

NASDAQ SNPS opened at $115.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.82. Synopsys has a 1-year low of $79.14 and a 1-year high of $124.12. The company has a market capitalization of $18.17 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 3.83 and a beta of 1.30.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.51. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The company had revenue of $820.40 million during the quarter, compared to the consensus estimate of $796.30 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that Synopsys will post 3.17 earnings per share for the current year.

A number of equities research analysts have recently weighed in on SNPS shares. DA Davidson lifted their price target on shares of Synopsys to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Synopsys in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their price target on shares of Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research report on Thursday, April 11th. Finally, KeyCorp started coverage on shares of Synopsys in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $121.10.

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About Synopsys

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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