Stock Traders Purchase High Volume of Synopsys Put Options (SNPS)
Synopsys, Inc. (NASDAQ:SNPS) saw some unusual options trading on Monday. Stock investors bought 3,260 put options on the company. This is an increase of 1,829% compared to the typical volume of 169 put options.
A number of analysts have issued reports on the company. Royal Bank of Canada raised Synopsys from an “outperform” rating to a “top pick” rating and raised their target price for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. Zacks Investment Research downgraded Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Needham & Company LLC raised their target price on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $105.00 target price (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $96.89.
Synopsys (NASDAQ SNPS) traded up $1.12 during trading hours on Wednesday, reaching $86.62. The company’s stock had a trading volume of 1,292,451 shares, compared to its average volume of 990,956. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. Synopsys has a twelve month low of $65.56 and a twelve month high of $94.80. The stock has a market capitalization of $12,689.74, a P/E ratio of 100.59, a P/E/G ratio of 3.80 and a beta of 1.04.
In related news, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $336,675.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Walske sold 4,545 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total value of $409,595.40. Following the sale, the director now directly owns 14,988 shares of the company’s stock, valued at $1,350,718.56. The disclosure for this sale can be found here. Insiders have sold 65,442 shares of company stock valued at $5,779,693 over the last ninety days. 1.82% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Synopsys in the fourth quarter worth $124,000. Robecosam AG boosted its holdings in shares of Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $188,000 after acquiring an additional 900 shares during the period. Advisor Group Inc. boosted its holdings in shares of Synopsys by 14.3% in the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 327 shares during the period. IBM Retirement Fund bought a new position in shares of Synopsys in the fourth quarter worth $201,000. Finally, Conning Inc. bought a new position in shares of Synopsys in the fourth quarter worth $205,000. 89.77% of the stock is owned by hedge funds and other institutional investors.
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Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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