Investors Buy High Volume of Put Options on Synopsys (SNPS)

Synopsys, Inc. (NASDAQ:SNPS) was the recipient of some unusual options trading activity on Monday. Traders bought 774 put options on the company. This represents an increase of 833% compared to the typical daily volume of 83 put options.

In other Synopsys news, VP Sudhindra Kankanwadi sold 2,085 shares of the stock in a transaction 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 sale, the vice president now directly owns 10,387 shares of the company’s stock, valued at $1,066,848.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Schwarz sold 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $117.61, for a total transaction of $1,176,100.00. Following the sale, the director now directly owns 16,491 shares in the company, valued at $1,939,506.51. The disclosure for this sale can be found here. Insiders have sold a total of 142,190 shares of company stock worth $14,729,218 over the last quarter. 1.84% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Lunia Capital LP acquired a new stake in shares of Synopsys in the 4th quarter worth about $18,330,000. Vanguard Group Inc increased its stake in Synopsys by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock valued at $1,563,115,000 after buying an additional 204,619 shares during the period. BlackRock Inc. increased its stake in Synopsys by 1.1% during the 1st quarter. BlackRock Inc. now owns 12,336,835 shares of the semiconductor company’s stock valued at $1,420,588,000 after buying an additional 134,481 shares during the period. Parnassus Investments CA increased its stake in Synopsys by 15.9% during the 4th quarter. Parnassus Investments CA now owns 6,795,161 shares of the semiconductor company’s stock valued at $572,424,000 after buying an additional 931,666 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Synopsys by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock valued at $607,189,000 after buying an additional 1,513,575 shares during the period. 91.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SNPS opened at $115.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.89. Synopsys has a 1-year low of $79.14 and a 1-year high of $124.12. The firm has a market cap of $18.17 billion, a price-to-earnings 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 data on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.51. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The business had revenue of $820.40 million for the quarter, compared to analysts’ expectations of $796.30 million. During the same quarter last year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Synopsys will post 3.17 EPS for the current year.

A number of analysts have weighed in on SNPS shares. DA Davidson increased their target price on shares of Synopsys to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. BidaskClub raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Synopsys in a report on Wednesday, April 3rd. Royal Bank of Canada increased their target price on shares of Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a report on Thursday, April 11th. Finally, KeyCorp started coverage on shares of Synopsys in a report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 target price on the stock. 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’s stock. Synopsys currently 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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