Synopsys, Inc. (NASDAQ:SNPS) CRO Sells $10,544,236.38 in Stock

Synopsys, Inc. (NASDAQ:SNPS) CRO Richard S. Mahoney sold 20,838 shares of the firm’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 transaction of $10,544,236.38. Following the completion of the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Synopsys Stock Performance

NASDAQ SNPS opened at $526.70 on Friday. The firm’s fifty day moving average is $519.43 and its two-hundred day moving average is $526.11. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $81.42 billion, a PE ratio of 36.27, a P/E/G ratio of 3.22 and a beta of 1.12.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Wednesday, December 4th. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler lowered their price target on Synopsys from $670.00 to $655.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Finally, Mizuho initiated coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $641.82.

Hedge Funds Weigh In On Synopsys

Institutional investors have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. purchased a new position in shares of Synopsys in the 3rd quarter valued at approximately $25,000. Kieckhefer Group LLC purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $27,000. Tsfg LLC lifted its holdings in shares of Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Synopsys in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

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.