Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney Sells 20,838 Shares

Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the sale, the executive now owns 1,460 shares of the company’s stock, valued at approximately $738,774.60. This represents a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Synopsys Stock Up 2.0 %

Synopsys stock traded up $10.13 during mid-day trading on Thursday, reaching $517.32. 603,267 shares of the company’s stock were exchanged, compared to its average volume of 968,032. The business’s fifty day simple moving average is $522.21 and its 200 day simple moving average is $527.43. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market capitalization of $79.97 billion, a PE ratio of 35.60, a P/E/G ratio of 3.22 and a beta of 1.12.

Institutional Investors Weigh In On Synopsys

Several large investors have recently made changes to their positions in the business. Pacifica Partners Inc. bought a new position in Synopsys during the third quarter valued at about $25,000. Kieckhefer Group LLC purchased a new position in Synopsys in the fourth quarter valued at about $27,000. Tsfg LLC grew its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $44,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on SNPS shares. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Piper Sandler decreased their target price on shares of Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, December 5th. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Company Profile

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.